FED Chairman Powell says smaller interest rate hikes could start in December, get ready for the Bull Run
Sometime yesterday I noticed that the Bitcoin price was first dipping and all of a sudden it changed direction with a big beautiful green candle before it later declined a bit, I was trying to wrap my head around the reason why the market pumped like that but I did not find one, until I slept and woke up this morning, sometime earlier today I picked up my phone and was scrolling through Twitter when the Fed's Chairman Jerome Powell statement about smaller interest rate hikes that could start this month popped up and the pump in the market yesterday now makes sense to me because today is the first day of December, so the pump yesterday was people reacting to the FED's Chairman statement, looks like December is off for a good start but let see what will happen later in the month.
Despite that at the time of my writing, this post. the Bitcoin market is experiencing a little bit of a dip but that might not last for long, I won't be surprised if by the time you are reading this post that the Bitcoin market might have pumped higher or worst case scenario it might have dropped a bit or it might be in a sideways movement but either way, December is off for a good start and hopefully, it will remain this way.
Rising interest rates by the FED may mean that Bitcoin, Ethereum, and other notable cryptocurrencies will rise or pump as well, and we are already seeing some positive reactions in the market between yesterday evening and today.
A lot of traders in the crypto space are anticipating that the interest rate hike will be a catalyst to pump the crypto market. The Fed's Chair Jerome Powell said that they still want to hit their 2% inflation target meaning there could be more tightening to come if the inflation did not continue to drop. With his statement yesterday, many people expect the bull market or run to begin today. That his statement is a great trigger or catalyst for the potential Bitcoin and Crypto Bull Run as I have mentioned earlier.
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More hikes will continue to make the interest payment even more unaffordable, and continue to squeeze liquidity. It is already priced in.
Won’t be enough spare cash to push the market into bull.
Let us see how it all plays out.