(too early to rejoice) Yesterday's 0.5 Fed rate cut and positive hawkish speech by Chairman Powell had the opposite effect than expected. Markets cut, the dollar strengthened, gold soared and bitcoin also rose to 62k.
It would seem that everything is great and now we can start a full-fledged Bullrun? No, friends, don't fall into that insidious trap.
A dramatic fed rate cut 📉 signals that the economy is in big trouble. So I see this as a temporary BTC increase before further declines.
My prediction is 45k per Bitcoin by the end of October or sooner. Hurry up friends and may the force be with you. 🧙♂️
