Hey! Listen we're just gonna get into this but if you'd like to leave a like and follow it would be much appreciated.
💥 Over the past few days Bitcoin and the digital market have been hit extremely harsh by the seemingly sudden crash which has seen over $300 billion dollars get wiped off the crypto marked. Bitcoin hit $20,800 this morning before bouncing back now to $22,000 bringing it to 2020 prices while Ethereum also plunged under that $1,100 mark with both cryptos' being down 24% and 31% the past week alone.
💥 This is following worse inflation numbers on Friday. They were way worse than expected with inflation in May nearly up 9% alone with most economist now predicting that the U.S Federal Reserve will more than likely accelerate the interest rate hike's it's had planned which could definitely cause more pain for Bitcoin alongside the entire crypto/digital asset market as a whole.
💥 There is basically gonna be a lot sitting on what the Federal Reserve determines tomorrow however regardless of that Investors are increasingly fearing the central bank becoming more aggressive to deal with the speed that inflation keeps climbing as they try to curb inflation and take more aggressive measures. Friday's data showed that U.S consumer prices rose at the fastest pace which they have since May of 1981.
💥 Before the data it was looking like the Fed would implement a 50 BP rate hike however that's now looking like a 75 BP rate hike is more likely with even JP as aggressive action will have to be taken to reinforce the credibility and strength the Fed may have in fighting inflation. Day by day the mood continues to get bleaker amongst the market and crypto community following this crash as the Fed will have to continue it's quantitative tightening policy to face inflation. So basically watch tomorrow for what'll likely be rough news that could continue to impact the crypto market and potentially even have us seeing pre covid levels.
Thank you and as always if you'd like to leave a like and follow It would be much appreciated but I simply want to bring you guys the news your gonna need, when you need it. Thank you!
~ Rock
💥 Over the past few days Bitcoin and the digital market have been hit extremely harsh by the seemingly sudden crash which has seen over $300 billion dollars get wiped off the crypto marked. Bitcoin hit $20,800 this morning before bouncing back now to $22,000 bringing it to 2020 prices while Ethereum also plunged under that $1,100 mark with both cryptos' being down 24% and 31% the past week alone.
💥 This is following worse inflation numbers on Friday. They were way worse than expected with inflation in May nearly up 9% alone with most economist now predicting that the U.S Federal Reserve will more than likely accelerate the interest rate hike's it's had planned which could definitely cause more pain for Bitcoin alongside the entire crypto/digital asset market as a whole.
💥 There is basically gonna be a lot sitting on what the Federal Reserve determines tomorrow however regardless of that Investors are increasingly fearing the central bank becoming more aggressive to deal with the speed that inflation keeps climbing as they try to curb inflation and take more aggressive measures. Friday's data showed that U.S consumer prices rose at the fastest pace which they have since May of 1981.
💥 Before the data it was looking like the Fed would implement a 50 BP rate hike however that's now looking like a 75 BP rate hike is more likely with even JP as aggressive action will have to be taken to reinforce the credibility and strength the Fed may have in fighting inflation. Day by day the mood continues to get bleaker amongst the market and crypto community following this crash as the Fed will have to continue it's quantitative tightening policy to face inflation. So basically watch tomorrow for what'll likely be rough news that could continue to impact the crypto market and potentially even have us seeing pre covid levels.
Thank you and as always if you'd like to leave a like and follow It would be much appreciated but I simply want to bring you guys the news your gonna need, when you need it. Thank you!
~ Rock
