Rate Cuts, Market history, Sentiments - What is about to happen?

Welcome back,

The entire crypto market is still struggling after the recent crash. Bitcoin is trading between $108,000 and $109,000, while most altcoins are down by 15% to 20% from their recent highs. People are worried about what might happen to the market and whether this is the end of bull cycle already.

Source

Now a lot of people are talking about an even bigger crash in the month of September, and the reason behind that is obviously the historical performance of the crypto market in this month. If you are not aware, September has always been one of the worst months for crypto, where the market usually sees a correction. After that, November and December have mostly been the best months for crypto, where we have seen consistent highs. But the main question here is, will history repeat itself?

I personally think that the current crypto cycle is very different compared to the previous ones. We were expecting a bump in the market from January to March and then a correction in April and May. But did that happen? No, the market behaved differently this time, not like the earlier cycles. That’s why I feel we should not simply expect the market to crash in September. In fact, I believe the market might react in the opposite way, and we could actually see some nice gains.

Source

The FOMC meeting is scheduled for the 15th of September, and rate cuts are being anticipated. Chairman Powell has also hinted towards a possible rate cut this month, and that’s why I believe the crash should end before the FOMC meeting. After that, we could see a massive run in the market. I even think some tokens might go 2–3x once the rate cuts are confirmed.

No matter what happens in the market in September, I think we should stay away from leverage trading for now because it’s monthly closing. In the next few hours, the monthly closing will be here, and I hope the important levels are going to hold so that we see a positive reaction in the market for the new month. For now, I’m going to hold my spot positions, and I still believe the market will give us one last run before the bear cycle starts.

What are your thoughts about the market? You can share them with me in the comments.

Thank you, and happy trading everyone.

Posted Using INLEO

0.00841024 BEE
1 comments

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.

Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.

image.png

100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.

0.00000000 BEE