Key points and analysis of Powell's speech:
Briefly summarize the points of the speech
1. Current situation:
1. Slow GDP growth: The rate of economic growth has slowed down, but it is still growing.
2. Low unemployment rate: The job market performed well and the unemployment rate remained low.
3. Inflation has eased: Although inflation has eased, it is still above the Fed's 2% target. Monetary policy:
4. Stable interest rates: The interest rate will remain between 5.25% and 5.5% and will not be adjusted until the inflation target of 2% is achieved.
2. Views on interest rate cuts
1. Powell said that whether to cut interest rates will depend on changes in the unemployment rate. If the unemployment rate rises, interest rate cuts will be taken quickly, otherwise the status quo will be maintained. Therefore, the unemployment rate data needs to be paid close attention to next.
3. Impact on the market
Powell's speech had little impact on the market, and BTC quickly gave up its gains after a brief rebound.
5 cryptocurrencies with 100x potential that you need to buy before the big bull market comes!
1. HIM
Think of Uniswap as the new Nasdaq. It’s a $7 billion blockchain-based cryptocurrency stock market. You can visit Uniswap to buy thousands of cryptocurrencies, such as Bitcoin and Ethereum (ETH).
Unlike the stock market, Uniswap is not run by brokers. Every Uniswap trade is processed by code. That code connects buyers and sellers directly, cutting out the middleman entirely.
UniSwap’s volume just passed $2 trillion. That’s more than Australia’s GDP.
Its UNI token has brought returns of more than 500% to early investors.
2. GHOST
Aave (AAVE) is another disruptive cryptocurrency that threatens the business of middlemen.
It is disrupting banks’ most profitable business: lending.
Aave is the JPMorgan Chase of DeFi. It is a crypto bank where users can lend, borrow crypto assets and earn interest.
Aave also helps big investors profit from the growth of DeFi.
DeFi has largely been off-limits to large investors. Aave’s new platform, Arc, aims to change that. For the first time, it allows money managers to use services like 5% returns on cash deposits. This could help Aave attract hundreds of billions of dollars in new deposits.
3.Not
Notcoin’s price has performed well and the project has also contributed to the community. On July 5, their official Twitter account shared that more than 200 projects have been launched on Notcoin. These launches have attracted participation from 22.5 million users. By using the Play-to-Earn formula, they have built a community of 40 million players. Users will find many Web3 projects on Notcoin and earn rewards by interacting with them. Recently, the project launched the Telegram Gaming Accelerator in partnership with Helika Gaming.
Notcoin has seen a 55% drop in trading volume over the past 24 hours, with its market cap now sitting at $496 million. Negative sentiment is pervasive across the cryptocurrency market. Even Bitcoin, the largest cryptocurrency, has seen a 30% drop in trading over the past 24 hours. Notcoin hit a peak price of $0.0292 on June 2. Currently, Notcoin is down 45% from its all-time high.
Even though the MACD shows that the price may be about to fall, this is only because the market sentiment is bearish.
Notcoin has not been badly affected by the bearish sentiment in the market. The coin has been stable due to the development of the project and the support of the community. This is just the beginning of its rise. As it rose 500% at the end of May, it still has a lot of room to rise.
4. LOVE
After bottoming out, TIA prices sparked a rebound after resisting bearish activity.
The coin is not expected to see a huge bullish candle thereafter but remain in an upward consolidation.
The DMI suggests that the trend reversal that has already begun could intensify due to the upcoming bullish crossover of +Di and -Di, but the ADX is about to start plunging.
The volume rose, indicating increasing trading activity, which could prolong volatility.
Therefore, TIA price is expected to sustain upward consolidation and break out of double digits to reach the overhead resistance at $11.
5.BE
After the SEI price hit the lower support of the descending wedge, it triggered a strong rebound.
The RSI is about to break above the downtrend line which has been acting as a strong support since the beginning of the year.
This suggests that the price is likely to maintain a strong uptrend and reach the upper resistance zone between $0.43 and $0.45.
The coin might face a minor pullback and remain sideways for a while before breaking out to the initial target above $0.6 above $0.58.
