Bitcoin (BTC) and all other cryptocurrency prices have fallen along with stock markets this year as investors brace for a more hawkish Federal Reserve.
Government intervention has caused the price of BTC to lose around 40% from its peak late last year with the Ethereum (ETH) also down by nearly 50%. Other major coins—including Binance's BNB -1.9%, Ripple's XRP -3.3%, Solana, Cardano, Terra's luna, and avalanche have all plummeted, wiping $1.2 trillion from the combined crypto market in a matter of months. Most of the damage has been seen in the last two weeks alone.
Federal Reserve chair Jerome Powell signaled a half percentage point interest rate hike is on the table at next week's meeting, which has caused the financial elite to throw a fit crippling markets while profiteering by shorting the markets and raking in trading fees. The FED has broken the market and the central bank has begun shrinking its $9 trillion asset portfolio as it battles soaring inflation.
I'm not an economist, but I could make the argument what we have is not an inflation issue, but it's a supply chain issue. I'd also say it's a margin expansion issue. What I mean by that is companies are using all these events to actually raise prices to increase their own profits.
The middle class is still spending at record paces and no one has really changed their habit which now is a problem. People have too much money so businesses and government can't have that!
I don't want to be one of the people spreading FUD, but markets have been downright bleak. I believe that positioning yourself for a prolonged crypto bear market is important, but at this point, I have lost track of markets and I'm getting emotional about my investments which is a terrible state to be in.
I have been DCA'ing into my favorite coins and I'm looking for a cost-effective way to automate this so I don't have to constantly look at it while making transactions. I've also got about 10 LTC ready to move over to HBD, but I'm waiting a bit for a relief bounce to convert.
My question to this community is what's your plan for the next week, month and year?
