If the U.S. Federal Reserve slashes interest rates for the first time in four years later this month, bitcoin analysts at Bitfinex forecast the price of the world’s largest cryptocurrency may potentially drop by up to 20%.
“This is because the positive correlation with traditional asset classes, such as U.S. equities, indicate that global economic conditions will continue to influence bitcoin’s price for now,” the firm told TheStreet Crypto.
Bitcoin {{BTC}} could drop as much as 15%-20% following a September rate cut if the easing cycle is paired with a recession, wrote the team. That would translate to a bottom somewhere in the $40,000-$50,000 range.
"Typically, rate cuts are perceived as bullish catalysts for risk assets," they wrote. "A 25 basis point rate cut would likely mark the beginning of a standard rate-cutting cycle, which could lead to long-term price appreciation for BTC as recession fears ease. Such a move would signal the Fedʼs confidence in the economyʼs resilience, reducing the likelihood of a severe downturn."
Alternatively, a larger 50 basis point cut might result in a short-lived 5%-8% spike for BTC only to be erased by growing concerns of an oncoming recession and more pain for asset prices, Bitfinex added.
"This would mirror past instances where aggressive rate cuts initially boosted asset prices, only for the gains to be tempered by rising economic uncertainties," the authors said. #BTC☀ #fedinterest #intrestrate #PowellAtJacksonHole #Influencer

Yesterday, the crypto market experienced a significant downturn, with prices dropping by 20% to 50%. Many crypto long traders were liquidated within minutes. One trader lost $1,148,487 but managed to recoup 10% of that amount, totaling $1,79,574. Is it possible? Yes, it is. By following the steps outlined below, based on analysis of his strategy, it can be achieved.
YESTERDAY; He Lose $1M:
Yesterday, he leveraged between 5X and 10X on $PEPE & $BTC . Eventually, the prices of these assets dropped by 10% to 30%, leading him to lose all of his money due to the leverage.

Today; He Received $1,79,574:
He is a crypto influencer with 31.5k followers. After losing his $1 million, he is now crying in front of his followers, sharing his story of the loss. He had been in the crypto market since 2017 and was a millionaire before losing the $1 million. Now, he doesn't even have $1000 left to trade with, leaving him depressed. He reached out to his followers for help to get back into the market, and some of them donated money. He managed to collect $100,000.

Summary:
The recent downturn in the crypto market has led to significant losses for traders, with some experiencing liquidation and substantial financial setbacks. Even seasoned influencers and traders, once millionaires, are not immune to the market's volatility, as evidenced by one individual who lost $1 million. Despite reaching out to followers for support and managing to collect donations, the path to recovery remains challenging in the wake of such losses.
KARMA:
Karma in the crypto market context reflects the consequences of one's actions, such as taking risks or seeking support from the community. It embodies the idea that actions have repercussions, both positive and negative, within the market environment.
🪷
$BTC $PEPE #Memecoins #bitcoinhalving #Trading #Karma #Influencer