Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: philipma1957 on March 18, 2024, 05:03:41 PM
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I think they will Lower the rate by ¼ point.
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I don't know why you chose Ethereum section to write the topic, perhaps it is better to move it to another, more appropriate section.
I read in some news that Jerome Powell is hinting again at not cutting rates in March. He said: We are trying to choose the appropriate time to reduce it. and said: Policy makers are still aware of the risks posed by inflation and do not want to reduce it too quickly.
The central bank head said: “The committee does not expect that it would be appropriate to lower the target range until it gains greater confidence that inflation is moving sustainably towards 2 percent,”
https://www.cnbc.com/2024/03/06/powell-reinforces-position-that-the-fed-is-not-ready-to-start-cutting-interest-rates.html
So it seems from these statements that they have no intention of reducing it at the present time.
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well I want to follow up with a new pool after he lowers it by .25 :) :)
Next pool would be now that fed did whatever will we get a boost?
a drop or a lack of effect.
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I doubt they plan on making changes anytime soon, maybe around half section of the year . Using my country as a case study I wouldn't be surprised if the CPI is lower than last months
Next pool would be now that fed did whatever will we get a boost?
a drop or a lack of effect.
I believe one of the current reason for the dip today is as a result of the news of Wednesday. I guess many are judging it based on last months effect on the market. So either nothing or a pump, since I believe the dip is already happening today.
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we dropped down to 62 -63k
I think its due to waiting on the news of wendsday.
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we dropped down to 62 -63k
I think its due to waiting on the news of wendsday.
I doubt very much that this is the only reason, if at all. The drop I think is due to profit taking, which is logical after a return of 82.5%, going from $40,000 to $73,500 in a couple of months. When we got to ath everybody was in profit, and that's when the profit taking started.
As for rates, the easing of the rate policy and the announcement that they were going to be lowered in the future encouraged the markets in general, and if they were lowered by 0.25 now I think it would give a boost but as I have explained I doubt very much that it is the cause of this recent drop.
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As for rates, the easing of the rate policy and the announcement that they were going to be lowered in the future encouraged the markets in general, and if they were lowered by 0.25 now I think it would give a boost but as I have explained I doubt very much that it is the cause of this recent drop.
Yes, I also agree with your point of view. I doubt that waiting for the announcement of fed is the reason for the recent decline that occurred. There are many reasons like the ones you mentioned, and perhaps today’s BitMEX incident also played a role.
Large sell orders worth $55.49 million led to the price of Bitcoin falling to $8,900 on the BitMEX platform. But fortunately, prices quickly recovered:
Large sell orders worth $55.49 million drove bitcoin’s price down to $8,900 on BitMEX. The overnight crash was short-lived.
https://www.coindesk.com/markets/2024/03/19/bitcoin-flash-crashed-to-89k-on-bitmex/
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In the end the FED kept rates unchanged, unlike what the OP thought, and the markets took it well. The US stock market reacted upwards and bitcoin too just after the announcement. I guess it wasn't so much the rate maintenance as the reassurance that they were going to stick to the rate cut plan. (https://www.ft.com/content/2bc28837-e4b5-47c3-9254-3990e4899a48)
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Very similar to the Fed’s moves in 2007-2008 they ended in a complete disaster.
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I doubt very much that this is the only reason, if at all. The drop I think is due to profit taking, which is logical after a return of 82.5%, going from $40,000 to $73,500 in a couple of months. When we got to ath everybody was in profit, and that's when the profit taking started.
If sighting from $20k then we can say it's above 82.5% which almost about 100% plus and of cause this is very tempting for traders or investor to hold or still sustain the market without taking profits, the resistivity of the market selling pressure is what hold back the market from not crossing $80k and since it couldn't cross then I hoping to see it cross after halving.