BITCOIN Should Rise but mind the FEDS 👹

3 thg 10, 2022

The past week or so went quite smoothly for BTC, which spiked to $20,400 on Tuesday to mark a 12-day high before dropping sharply to $18,600. However, it bounced off at that point and calmed around $19,000 for the next several days, aside from one brief pump toward $20,000.

The weekend was particularly calm as bitcoin stood close to $19,000. Monday starts on a similar note, with BTC trading a few hundred dollars above that line.

However, the landscape can change later today as the US Financial Stability Oversight Council will have a meeting presided by Treasury Secretary Janet Yellen.

“The preliminary agenda for the executive session includes an update from staff of the Federal Reserve and the Commodity Futures Trading Commission on financial stability and energy market developments.” – said the department.

Previously, such meetings from the US financial authorities brought enhanced volatility to the crypto market, and given the fact that today’s is an “emergency” one, there could be even more fluctuations.

So let's mind the Feds and Yelen tonight. In the meantime:

Investors ditch the euro and pound for Bitcoin in record numbers as their value plummets

In the midst of the collapse of multiple fiat currencies worldwide, the cryptocurrency market seems to be going strong, leading investors to turn their gaze to digital assets like Bitcoin (BTC) and Ethereum (ETH) instead.

As it happens, investors in the United Kingdom and the European Union are selling their pounds (GBP) and euros (EUR) to purchase Bitcoin in record numbers, according to the data and charts published by crypto market intelligence platform Messari on September 29

Again, BTC seems like the most promising safe haven. Personally I am a buyer and make sure you DYOR nad make up your own decisions.

One Love,

The FXPROFESSOR