The coins market appears to be heading into darker clouds amid the FOMC meeting. While retailers worry about a plausible crash, novices shake hands with traders with deep pockets. What is now commonplace in the crypto city, during negative financial feelings.
In the FUD turmoil that prevails over the FOMC meeting. The fear and greed index fell heavier on the fear side, to a 29 degree. Market charts continued to bleed red, due to digital assets crawling along narrow bandwidth . Meanwhile, the President of El Salvador, Nayib Bukele, writes his optimistic 2022 forecast for Bitcoin.
Will typhoon winds devastate the market?
The cryptoversy is shaking in fear of the Federal Open Market Committee meeting scheduled for later this month. The supposed implications of the meeting have left the dreaded space, which includes a hike in interest rates to counter inflation. The possible rise in interest rates would reduce borrowing capacity.
Successively, the less leveraged money flowing into the market causes the market to slow down. Although the increase in inflation numbers is about to be a positive note for the crypto market. Cryptos have since been viewed as a hedge against inflation. The supercycle has left little time for digital assets to rebound. The next big FOMC meeting is scheduled for March, where delegates will update economic projections.
Crypto assets falling below crucial support levels and Wall Street dumping stocks could pave the way for a possible crash. Retailers distribute their holdings to low risk assets including NFTs, stablecoins, and metaverse projects. On the flip side, veterans are hammering iron while hot as the crypto market could take a hit.
Nayib Bukele’s forecast for 2022?
President of El Salvador Nayib bukele writes his optimistic forecast for 2022 on Bitcoin. Nayib Bukele predicts that Bitcoin will hit its long-standing goal of $ 100,000 this year. Other predictions include two more countries adopting Bitcoin as legal tender. Bitcoin becomes a major electoral issue in the US elections. Bitcoin city building, volcanic bond oversubscription and a surprise at the Bitcoin conference.
Collectively, the results of the Federal Open Market Committee meeting could eventually turn in favor of citizens. As people took the wrath of inflation, of the pandemic. In addition, the agitation around the new variant of the virus will be under study by the authorities. Hopefully the space emerges from the FUD blues as it did after the inflation figures released by the governing authority.