Hello, fans and friends, welcome to the president's channel
Yesterday, Bitcoin once again tested the bottom. Currently, the monthly line is trending downward. Many brothers came to ask the president whether a sharp drop is coming? Is the bull market turning into a bear market? What the president wants to tell the brothers is that it is just a deep correction at present, which is a small episode in the process of climbing upwards. The president here also tells the brothers to face it with a normal mind. Don’t be scared to sell all your stocks just because the monthly line is currently a negative line. This is the behavior of leeks. It has already adjusted back to around 57,000. How much can it adjust back to? At present, Bitcoin has fallen below the last low point in April, while Ethereum and many altcoins have not fallen below it. The president is still bullish in the medium and long term!
Now the president will take the brothers to look at the relatively valuable information from yesterday and today
The prospect of "higher and longer" interest rates is weighing on the cryptocurrency market, with Bitcoin posting its biggest monthly drop since the collapse of SBF's FTX empire in November 2022. Bitcoin plunged nearly 16% in April, and the Bitcoin and Ethereum ETFs launched in Hong Kong on Tuesday also failed to gain momentum. There are growing reasons to suggest that the Federal Reserve may signal a delay in rate cuts after the meeting this week. Chris Weston, head of research at Pepperstone, said the recent rise in U.S. Treasury yields and real interest rates is stressful for gold, Bitcoin and U.S. stocks. The current trend of the big cake is indeed very unsatisfactory, which is closely related to the United States' intention to continue raising interest rates and the external economic environment. What the president wants to say is that the president does not know whether there will be a rate cut in the second quarter, but there will be a rate cut in the third quarter. Brothers must learn to be friends with time.
Next, the president will take the brothers to look at the current plans for the Federal Reserve's interest rate
Fed officials are likely to hold interest rates steady for the sixth time in a row at their policymaking meeting, and may signal that there are no plans to cut rates in the near term amid higher-than-expected inflation. Policymakers are reluctant to start cutting rates until they are sure that inflation is close to reaching 2%, a rate they believe is appropriate for a healthy economy. Although they had planned three rate cuts in 2024 as early as March, Powell is likely to say that those plans have been shelved and will depend on improvements in inflation. The probability of a Fed rate cut in the second quarter is indeed very low, but the Fed chairman can be very sure that a rate cut is inevitable in the third quarter!
Contract: The chairman's suggestion is still to buy at a low position in the long term, and do not blindly place orders in the short term. The precise position will be given in the community later. Sol can place orders around 120-115, and brothers can boldly enter the rudder!
In terms of altcoins: Brothers can consider ambushing Ethereum Layer 2 appropriately, and try not to touch the contracts of meme coins, AI tracks, and altcoins. Spots must also be equipped with stop losses, and don't be too greedy, don't think about eating a fat man in one bite.
