Get ready for a pivotal 20-25 days in the market! My recent experience on August 4th served as a wake-up call, with losses of $790 in my spot wallet and $65 in futures. Fortunately, I had sold some underperforming tokens earlier that day, avoiding a potential disaster when altcoins plummeted 50% the next day - the largest drop since 2022.
This experience led me to adopt a cautious approach, avoiding altcoin investments until the 20th of this month. Now that the day has arrived, I'm sharing my insights. The latest FOMC meeting resulted in no interest rate cut, indicating a strong dollar and triggering a crypto market correction.
However, with an interest rate cut likely in September's meeting, the upcoming 20 days are poised to be bullish. Invest wisely, as token prices will likely surge before the announcement. But beware - the initial excitement may give way to a "sell the news" event, with Bitcoin potentially spiking and then declining, affecting altcoins too.
Remember, an interest rate cut is ultimately bullish in the long term. Stay prepared!