Popular crypto analysts say the recent slump in the market means negotiations are needed, but today’s Federal Reserve policy could have a major impact on all asset classes. warned.
In a new strategy session, Nicholas Melten will price 503,000 YouTube subscribers to a discount range as the leading smart contract platform Ethereum (ETH) and two of its competitors may present opportunities to the Bulls. He says this has come down.
“Ethereum is down 55.77%, similar to what we saw here in May.
Solana. Regardless of how you feel about these protocols, you have to say you like Solana more with a 68% discount in the $80 to $90 buy-in at $253 per token.
There is also an avalanche here. Another major Layer 1 protocol has been reduced from approximately $150 to $50, with nearly two-thirds of the value fixed and can be purchased at a discount of approximately 66%. “
Ethereum traded at $3,730 in the new year but saw a series of price cuts and now trades a total of $2,620, down 29.8%.
The Layer 1 blockchain protocol Solana is down 43% from $173.62 to $99.10 in 2022, while smart contract platform Avalanche is trading at $70.46, down 36.4% from the January 1 price of $110.70. a job.
Milton said that negative sentiment is likely to affect both the cryptocurrency market and stocks if the Federal Reserve plans to raise interest rates above 0.25% to 1%. I.
“If the Fed really sticks to that word, it makes that stick around actually raising rates, and if it shows it’s no joke at this conference or the next few meetings, the asset market. It doesn’t matter what they think or how they react…it’s bitcoin.” …and will cause more sell-side pressure in the already battered stock markets.”
In addition to the expected decision from the Federal Reserve, the DataDash host says that Bitcoin (BTC) is at a really important time.
“”[The Fed meeting] Maybe it’s going to be a lead that either goes up towards the $150,000, $200,000 range that we’ve been talking about in the past, or leads us into a market that could become a bear market. The same is true for all assets, not just cryptocurrencies. “
Bitcoin has been in a long-term downtrend since hitting a record high of over $69,000 in November. It is down 19.3% this month alone, trading at $38,185 from the New Year’s Day price of $47,292.
Check price action
Don’t miss out – sign up and send encrypted email alerts straight to your inbox
Follow me TwitterAnd Facebook and Telegram
Browse the daily mix
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors need to do their due diligence before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfer and transactions are your own responsibility and any loss you may incur is your responsibility. Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets. Also, Daily Hoddle is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Featured Image: Shutterstock/tykcartoon