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Crypto Observers Puzzled About Future Amid Fed Interest Rate Hike

20-Sep-2022 By: Divya Behl
Crypto Observers Puz

Crypto markets, like global markets, are in a bloodbath because of the present global macroeconomic circumstances. 

Investors have been cautious as they await the US Federal Reserve's monetary policy decisions in the face of growing inflation.

However, market analysts are divided on whether this is the moment to "buy the dip" or whether it is better to avoid the market. The crypto influencers on Twitter appear to be bullish.

“Of course, we may bleed further, but the market at this price is significantly more appealing than it has been in over a year,” writes a Twitter influencer to his 610.9K followers on September 9.

Other influencers anticipate that "cryptocurrency will begin the "Bull Run" at any time. Feel like we're relatively safe till midterms."

Unfortunately, macroeconomic constraints present a different picture.

FedEx announced last week that it had fallen $500 million short of its revenue projection for the first quarter, highlighting the likelihood of worsening economic conditions. According to the Federal Reserve Bank of New York, consumer debt will exceed $16.15 trillion in the second quarter of 2022.

FedEx has announced intentions to eliminate 90 locations by the end of the year as part of its response to the economic downturn.

In a CBS interview on Sunday, President Joe Biden promised Americans that inflation will be kept under control. Observers wonder if he's hinting at the Fed's potentially massive 100 basis point interest rate hike.

It is uncertain when asset prices will rise, regardless of how swiftly the Fed tries to disincentivize debt. "Rich Dad, Poor Dad" author Robert Kiyosaki's comment gives another viewpoint to the scenario.

Kiyosaki wrote on Twitter: Retirement plans for Baby Boomers are being stolen. The $10 trillion in fake money spending is coming to an end. The government, Wall Street, and the Fed are all fraudsters. Depression due to hyperinflation. Purchase gold, silver, and Bitcoin before the wolf awakens.

Read also: ETH Charts Show Darker Outlook, Another 25 Percent Correction on Radar

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