🟢 Where will the price of $BTC go next week?
🟢 Like every economist, the most experienced investors in the crypto market know that cryptocurrency prices are strongly influenced by macroeconomic events.
🟢 These events can be divided into: i) predicted events; ii) unforeseen (extraordinary) events.
i) Predicted events are priced in advance by the market (mass of investors). The main one is the cut in the US domestic market interest rate.
ii) Extraordinary or unforeseen events, for example, the outbreak of a war, environmental disasters, reflect in subsequent falls or rises, as a way of reacting to the event.
🟢 The US interest rate cut is expected to be announced by the FED on September 18 and 19, 2024. In fact, the FED chairman said in his last interview that the data indicates the ideal time to cut the interest rate.
🟢 The market, however, remains fearful and apprehensive about the announcement, an expected and absolutely natural reaction before major events. As a result, most investors remain short and hold on to the dollar, in order to minimize losses and wait for the right moment to return to their long positions.
The interest rate cut is certain. It remains to be seen how much will be cut. Whether 0.25% or 0.5%. Everything will depend on the US economic data that will be released next week, especially the data on non-agricultural employment (payroll) that will be announced on Friday (09/06/2024).
After the announcement, the prices of $BTC and other cryptocurrencies should take off to the moon!
🔴 This is the main point of attention. Caution is always good, but too much caution can keep you out of the biggest rise of this cycle. In other words, you could miss the ride on the rocket to the moon.
🔴 Consider that predicted events, such as interest rate cuts, are always anticipated by the market. And trying to hit the bottom (market apprehension) is like trying to shoot a fly in the ass.