The Federal Reserve cut interest rates by 50 basis points last night
Last night was a sleepless night. At 2 a.m., the Federal Reserve announced a 50 basis point interest rate cut, which exceeded market expectations. The market conditions were very good and Bitcoin rose directly to US$61,000.
Personally, I believe that Bitcoin will continue to attract hot money flowing out of banks, pushing Bitcoin to achieve a new round of cyclical increases. After all, the U.S. is mainly a financial market. The U.S. stock market has been in a bull market for too long and lacks price advantages, so it is natural to introduce the cryptocurrency circle. Of course, hot money will not flow into the market immediately. This requires a process of transmission, and everyone needs to wait patiently.
In fact, most of the coin friends missed this huge rise and will always live in regret. They have been waiting and missed opportunities. They are cautious when they should be brave. Now that the market is hot, they are anxious to enter the market. Little do they know that the danger has come. The price may fall back in the short term. This market will never belong to most people. Therefore, it is recommended that the coin friends who have made profits reduce their positions to preserve value and observe for a few days.
After all, the new round of bull market will last for a long time, and there will be many opportunities in the later stage, and there will be many opportunities to continue to catch the coins with large gains. The purpose of vacating positions is that if there is a short-term decline due to the high market heat, it is an opportunity to increase positions at low prices and make a big profit again.
Invest in 5 cryptocurrencies with a future bull market that could increase by up to 100 times!
1. GHOST
Aave, the native cryptocurrency of the DeFi lending protocol, tops the list of most noteworthy altcoins. Over the past 30 days, AAVE’s price has increased by 23%, making it one of the best performing altcoins in the past month. On the daily chart, the coin has formed an ascending triangle, which is a bullish chart pattern. Currently, AAVE is priced at $136.
Although the red candlesticks show that bears are trying to put pressure on the price, as long as the cryptocurrency continues to trade inside the triangle, it is likely to resist the downtrend. If this remains the case after the Fed announces a rate cut, the coin is likely to rebound.
2.FTM
Like Aave, FTM is one of the large-cap altcoins that has seen impressive gains recently. The price of FTM has increased by nearly 50% in the past 30 days, which may be related to Fantom’s almost completed Sonic upgrade. At press time, FTM is priced at $0.65. However, according to the Money Flow (CMF) indicator on the daily chart, the token may move higher. CMF indicates whether the accumulation rate exceeds the distribution rate.
When the reading increases, buying pressure is much greater than selling volume. As shown below, the CMF reading has increased, indicating that bulls are still in control. If this remains the case, the price of FTM could break through the $0.59 resistance and climb to $0.80.
3. ETHFI
In the field of decentralized finance (DeFi), ether.fi plays a key role in the Ethereum staking and liquidity re-staking market. As a leading non-custodial staking solution, ether.fi provides users with services and functions that allow them to fully control their crypto assets and earn returns through staking.
Over the past month, lending protocols have experienced the highest net inflows with Ether.fi’s weETH/eETH (leading LRT) totaling $252 million in inflows. During the same period, users have poured $52 million into bridge protocols and $39 million into EOAs and Safes. ETHFI could rebound from this point. If that happens, the price could climb above the 1.67 parallel end. If the token breaks out further, the outlook could return to at least a 3-6x gain.
4.OM
The price of OM has fallen by 9.5% in the past five days but is currently holding above the $1.04 support level. This support level could provide a base for the altcoin to recover and potentially climb to the all-time high of $1.41.
The upcoming mainnet launch is expected to be a significant catalyst for OM. If the bullish momentum continues into October, the altcoin could break out of the current highs and surpass $1.41. This would mark a potential 33% gain for the crypto asset. Positive sentiment when new products are launched is crucial to drive this growth.
5.DOGS
Since its airdrop, Dogecoin (DOGS) has taken the cryptocurrency market by storm and has quickly risen to become the third most held cryptocurrency after Ethereum and USDT. Today, it has a market cap of $523 million and has over 4.5 million different wallets on the TON blockchain.
DOGS has a large user base and a unique market position; therefore, it is expected to expand even if the price drops slightly. It reflects unprecedented participation in the Web3 space, with 53 million people interacting with its mini-program. Its hype and ability to attract users indicate the possibility of the token gathering momentum in the next bull cycle. For early investors, DOGS can provide significant returns due to its rapid acceptance and strong momentum.
