Jerome Powell's speech caused $3B liquidations,
Many started believing, this is the END of 2024 bull run.
Explaining why, with 99% chance, all of these are manipulations 🧵👇
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Today, the market experienced one of the biggest dumps in the last 2 years.
So I want to talk about what caused that dump.
And how to prevent being liquidated in the future.
Let's start with the already loud "Good Afternoon"
Yesterday, the FOMC meeting took place in the US.
And it brought 2 news: 1 good one and 1 bad one.
Let's break down each one.
Good one - lowering the interest rate by 25 bps.
Lowering interest rates can potentially bring more new hands to the market.
Bull run in 2021 was purely triggered by lowering the interest.
Bad one - comment about $BTC reserve.
When Powell was asked about the plans for the BTC reserve, he replied:
The Fed is not authorized to $BTC and no plans are established to expand it anytime soon.
That statement immediately triggered a panic attack among traders.
Only during Powell's speech, $BTC dropped by almost 7%.
But let's take a wider picture for a sec.
Don't forget that we are in a correction state.
The BTC along with most alts corrected around 15% at most.
That may sound like a lot, but most of the assets are already recovering.
It's okay that the market can react that emotionally.
But it also opens a lot of new entry points.
So If I were in your place, I would keep an eye out to fill your bags more.
As we haven't even seen a proper alt season.
But Powell has always shown not the best impact on the crypto market.
When Trump starts his presidential term, he probably will get replaced.
This will open up crypto for less strict regulations.
This can lead BTC to over $200k per coin by the end of the year.
We put a lot of research and work into this thread before reading it.🙏 🚨
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