Just as we were waiting for, the financial market to me is one funny place that can astound you. It has a pattern in which things are done. I am just wondering why I am not having a huge portfolio by NOW. Doesn't it always surprise you? The market drops and highs, we've seen this many times yet regrets always make up our entire portfolio. September has for the second time surprised us ALL. We never saw it coming, right? It was one of my predictions that the market may again surprise us.
The Bitcoin market left the 59-60K mark on 18/09/2023 and it has been pumping. It all goes back to Wednesday when the US Federal reserve surprised a lot of investors. Could you believe it? A rate cut of 50bps (basic point), even Wall Street never saw it coming (hmmm, maybe this is me just assuming; Intels are everywhere), shhh! What do I know? Jerome Powell and his crew have salvaged the financial market on a bloodthirsty September. The central bank issuing such a high rate cut is traced back to Covid times, this shows how serious the global economy is facing pressure in a curfew free 2024.
Although Mr Powell had given earlier hints in one of his speeches this September by voicing out 'it is time to cut rates', many investors were just prepared to manage the usual quarter. Risking much with this government agencies is risky, you know, what if they change direction overnight? Who always questions the government when doing their normal thing? I don't really know how the green candles will last but this rate cut release from the US is encouraging. Just looked through the market and saw changes from the altcoin industry and I knew bitcoin wouldn't be an under performer. Yes, it has dropped slightly below it's rally within this three days. I must say, I saw it peak to $63,900 on the weekend and I knew it wouldn't take long to do a slight correction. Bitcoin is bending to stock market rules, close your laptop on Friday evening till Monday. The one we never saw coming.
Green for altcoins
Hive just pumped or should I say made a move. It is within the $0.19-0.20 dollars. Feeling happy for the price move, at least it has revived some investors in this chain. I saw a user post a thread that the uptrend of hive just came at the right time when he had an inevitable bill to pay. I know he is happy he could sell less hive rather than break limits. Many people are expecting the market to pump next year with an inevitable bear market in 2026. A pump they say, is this possible? institutional investors can charge this to possibility, adding to that, bitcoin is yet to fulfill its halving record after within the eighth and tenth month as usual.
Nevertheless, there is a need for investors to stay cautious. One shouldn't trust the bitcoin market system as of before. Institutional investors have been introduced to this system, meaning a lot of rules have changed. Of course you know these guys are not here to define blockchain terminologies? No, they are here for the money. Big firms like blackrock are money accruers and I wouldn't want to judge anyone's transactions as it stand yet they have high possibility to manipulate market prices. You wouldn't want to mess with the big boys.
Blackrock both threat and opportunity
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We must accept this, bitcoin is being hunted down and I will finally be overtaken by a brood of money moguls. Satoshi never dreamt of it, who knows, all I can say is that this financial transaction ledger is becoming a sort after. Beginning to think bitcoin should have had multifunctions exceptions as a means of transferring funds; funds are always chased down by the rich fellas for control reasons. When looking at the hive ecosystem, you'll get a glimpse of where I am heading. It goes beyond just monetary transactions, many things are accepted in this ledger.
That said, although big firms threaten the system, it will unlock doors for altcoin to thrive. At least, we will benefit from the price pool overtime. It's one reason we are expecting a market pump should Bitcoin hit let's say $100K.
To conclude, let me add, it's good for the crypto market to be green at least for the meantime if actually so. I don't know what the central banks next decision will be, yet I feel it may remain another cut. Nevertheless, one shouldn't expect another halve cut, be prepared for a quarter (this is not investment advice, DYOR).
Posted Using InLeo Alpha