The coins market appears to be heading into darker clouds amid the FOMC meeting. While retailers worry about a plausible crash, novices shake hands with traders with deep pockets. What is now commonplace in the crypto city, during negative financial feelings.
In the bustle of FUD prevailing from the FOMC meeting. The fear and greed index has fallen heavier on the fear side, at a degree of 29. The market charts have been continuing to bleed red, as a result of digital assets crawling along a narrow bandwidth. Meanwhile, El-Salvador President Nayib Bukele pens his optimistic predictions for 2022 on Bitcoin.
Will typhoon winds devastate the market?
The cryptoversy is shaking in fear of the Federal Open Market Committee meeting scheduled for later this month. The supposed implications of the meeting have left the dreaded space, which includes a hike in interest rates to counter inflation. The possible rise in interest rates would reduce borrowing capacity.
Successively, lesser leveraged money flowing into the market results in the market slowing down. While raising inflation numbers are poised to be a positive note for the crypto market. Since, cryptos are considered as a hedge to inflation. The supercycle has left little time for the digital assets to rebound. The next major FOMC meeting is scheduled in March, where the delegates would update economic projections.
Crypto assets falling below crucial support levels and Wall Street dumping stocks could pave the way for a possible crash. Retailers distribute their holdings to low risk assets including NFTs, stablecoins, and metaverse projects. On the flip side, veterans are hammering iron while hot as the crypto market could take a hit.
Nayib Bukele’s Predictions For 2022?
El-Salvador President Nayib Bukele pens his optimistic predictions for 2022 on Bitcoin. Nayib Bukele predicts Bitcoin to achieve its longstanding target of $100,000 this year. Other predictions include two more countries adopting Bitcoin as a legal tender. Bitcoin becoming a major electoral issue in U.S elections. Construction of Bitcoin city, Oversubscription of volcano bonds, and a surprise at the Bitcoin conference.
Collectively, the results of the Federal Open Market Committee meeting could eventually turn in favor of citizens. As people took the wrath of inflation, of the pandemic. In addition, the agitation around the new variant of the virus will be under study by the authorities. Hopefully the space emerges from the FUD blues as it did after the inflation figures released by the governing authority.
