Will BTC reach 100K or is it preparing for a pullback in the next 9 days before a really important FOMC meeting? Guys?
BTC is moving pretty nicely, but I think the greener it gets, the more we need to be careful. In 9 days, the FOMC meeting will be on 16/9, and this time could be quite sensitive to the market.
Right now, CME FedWatch is pricing about a 58% chance that the Fed will raise rates by 0.25%, while 42% is leaning toward holding steady. The probability of a hike has jumped significantly after August employment data came in better than expected.
More notably, there’s Kevin Warsh. After his speech at Jackson Hole, he emphasized that the Fed still needs to control inflation and even left open the possibility of raising rates if inflation doesn’t return to the 2% target.
What I’m most concerned about right now isn’t a Fed hike or a hold—it’s that the market may have already run ahead of expectations too much. If everyone is already thinking BTC will go to 100K, then just one piece of information that doesn’t match expectations could trigger a pretty painful shakeout.
These next 9 days aren’t the time to FOMO-chase the price. Let the market run; I’ll follow along too. Eat a little less, but still keep enough capital to trade again—that’s better, right everyone? :') @All
BTC is moving pretty nicely, but I think the greener it gets, the more we need to be careful. In 9 days, the FOMC meeting will be on 16/9, and this time could be quite sensitive to the market.
Right now, CME FedWatch is pricing about a 58% chance that the Fed will raise rates by 0.25%, while 42% is leaning toward holding steady. The probability of a hike has jumped significantly after August employment data came in better than expected.
More notably, there’s Kevin Warsh. After his speech at Jackson Hole, he emphasized that the Fed still needs to control inflation and even left open the possibility of raising rates if inflation doesn’t return to the 2% target.
What I’m most concerned about right now isn’t a Fed hike or a hold—it’s that the market may have already run ahead of expectations too much. If everyone is already thinking BTC will go to 100K, then just one piece of information that doesn’t match expectations could trigger a pretty painful shakeout.
These next 9 days aren’t the time to FOMO-chase the price. Let the market run; I’ll follow along too. Eat a little less, but still keep enough capital to trade again—that’s better, right everyone? :') @All
