Last week, Powell released a statement on monetary policy at the Jackson Hole Central Bank Annual Meeting, which attracted widespread attention from the market. He said that the Federal Reserve will further tighten monetary policy to reduce the inflation rate to the target of 2%. However, he also emphasized that he will act cautiously and make decisions based on the upcoming data.

This statement had an impact on the U.S. stock market, which began to refocus on the upcoming economic data and assess the outlook for the Fed's monetary policy. Most people believe that signs of a slowdown in the U.S. economy will gradually emerge, and this round of tightening cycle may be coming to an end.

Investment institutions such as Goldman Sachs believe that Powell's speech did not change the market's expectations for a rate hike next month, and the probability of a rate hike is still around 20%. Although his stance is hawkish, there has been no major policy changes, and he prefers a middle path. Therefore, they believe that the US stock market will have a chance to rebound.

The crypto market is related to the U.S. stock market, and the two are positively correlated. If the U.S. stock market rebounds this week, the crypto market is also likely to be affected and rebound. However, it should be noted that the volatility of the crypto market is much greater than that of the U.S. stock market, and investors need to be prepared for the next shock and volatility. #美联储是否加息？

Views on the market

At present, the market predicts that the probability of the Fed raising interest rates in September is 20%. From this data, we can preliminarily judge that the Fed's future policy direction is gradually becoming clear, the interest rate hike cycle is coming to an end, and the high interest rate cycle will continue. The interest rate cut may not appear until the second half of next year.

In the cryptocurrency market, there are two pain points that need attention. First, FTX faces a $3 billion debt repayment problem, and its solution has put some pressure on the market. Second, October is the most liquidation period for Mentougou, which may also bring some uncertainty and pressure to the market.#BTC

At present, the short-term trend of Bitcoin fluctuates in the range of 25,300-26,300 US dollars. In terms of operation, it is mainly high-altitude and low-multiple, but it is necessary to pay attention to controlling risks. In the medium and long term, Bitcoin is still in the second wave of correction, and the key support level is 25,300 US dollars. As for the bottom of Bitcoin, it has been analyzed many times before. Here is a simple reminder to everyone to pay attention to the main support levels below, which are 24,000, 23,500, 22,000 and 19,600 US dollars. These positions are worth your attention. $BTC

Finally, I want to emphasize that we must remain patient, as the mid- to long-term buying point has not yet arrived. In the case of volatile market conditions, it is very important to remain calm and rational.

5 Polkadot parachains that will interest all cryptocurrency investors

As a blockchain ecosystem, Polkadot realizes cross-chain transfer of assets and message execution through parachains. As a result, multiple parachain projects have caused a sensation in the cryptocurrency field.

Efinity

Efinity is a parachain dedicated to non-fungible tokens, which can mint, transfer and trade NFTs; according to its team, the platform is capable of processing 7,000 to 1,000 transactions per second. At the same time, they claim that it ends in 6 seconds. It also has a native token called EFI, which can be used for different purposes.

Moonbeam

Moonbeam creates smart contract-based applications for Polkadot; it leverages the existing toolset to build a wide range of programs. Among other things, it lets creators fully implement the Ethereum Virtual Machine. The platform ports decentralized applications and facilitates the creation and use of development tools. DeFi applications benefit from the security of the relay chain and can also interoperate.

Parallel Finance

Parallel Finance is developed for the Polkadot and Kusama ecosystems and includes decentralized market protocols and crowdlending products.

Manta Network

Manta Network focuses on privacy solutions and uses zk-SNARK technology to process transactions; the platform provides unparalleled transparency and makes information tracking very easy. It also adds a competitive advantage to the platform while making monitoring better. It can also efficiently perform private swaps and make trading very easy.

Speed

Astar is a hub for scalable and interoperable decentralized applications that supports Layer 2 solutions. It also includes ZK-rollups, Optimistic Virtual Machine, and Plasma, among others. These technologies provide greater flexibility through WebAssembly and Ethereum Virtual Machine. Blockchain technology accelerates incentive mechanisms and makes it easier to launch projects. In addition, Polkadot has its own project on the Kusama network called Shiden.

Parachains are a perfect addition to the cryptocurrency portfolio, offering multiple advantages such as transparency, competitive advantages, and interoperability. These parachain projects bring more possibilities and opportunities to the cryptocurrency space, becoming the right crypto solution that everyone can trust.