The cryptocurrency market rebounded this week, is the bull market really coming? Is the ether failing?
Bitcoin: Affected by the 50 basis point interest rate cut by the Federal Reserve, market confidence rebounded and the price of Bitcoin rose. The Federal Reserve predicts that the median interest rate at the end of 2024 will be 4.25%-4.50%, indicating that it will cut interest rates by 25 basis points at each of the next two meetings. The interest rate cut was seen as a defensive measure rather than triggered by an economic recession, prompting investors to enter the market.
Ethereum: Ethereum performed weakly and rebounded less strongly than Bitcoin. The main reason is that Vitalik did not provide a future development plan at the Token2049 conference, which led to the market's pessimistic view of Ethereum and the ETH/BTC exchange rate fell to a new low since 2021.
Key events:
The Federal Reserve cut interest rates: It cut interest rates by 50 basis points on September 19, and is expected to cut interest rates by 25 basis points each in November and December. The market is optimistic about the economic outlook.
Token2049 Conference: Vitalik did not provide specific future plans for Ethereum, leading to increased market pessimism and weak ETH prices.
When everyone is not optimistic about Ether, you must be optimistic to get this wave
Don’t make a contract easily at this time. The Meme market also needs to pay attention. The birth of #Marvin Mars Dog (7055) is now. Musk said that he will send Marvin to his rocket. If you support it, you must own it.
