Dramatic dip anticipated for Bitcoin and Ethereum prices following FOMC, according to seasoned market expert's warning
The crypto market is buzzing with anticipation as several key events are set to unfold in the coming months.
According to reports, President Trump is likely to announce Jerome Powell's replacement as the Federal Reserve Chairman several months in advance. This potential change could lead the U.S. towards a low-interest-rate environment, as was the case during Janet Yellen's tenure before Powell. However, it's important to note that there's no current information indicating when or if Yellen is expected to be reappointed as Chairman.
In the world of cryptocurrencies, analyst Ash is predicting a significant rise for Bitcoin and Ethereum. Ash believes Bitcoin could reach an astonishing $150,000, while Ethereum could find itself between $7,500 and $10,000. These predictions are based on current market trends and analysis.
The fourth quarter is shaping up to be a profitable one for crypto investors. According to data from CoinGlass, the average return for Bitcoin in the fourth quarter is over 80%. This trend, combined with the upcoming Securities and Exchange Commission's expected approval of altcoin ETFs in October, could trigger an "altcoin season" due to increased demand.
The crypto market rally is also expected to happen in the fourth quarter. Interestingly, sonic price accumulation suggests a rally as derivatives short positions increase, which could further fuel the market momentum.
In a more cautious note, analyst Ash also believes that the upcoming Bitcoin and Ethereum crash will create a good entry point for investors. This perspective underscores the volatile nature of the crypto market, where opportunities for profit can often be found amidst periods of instability.
As always, it's crucial for investors to conduct their own research and consider their risk tolerance before making any investment decisions. The crypto market is known for its volatility, and while there are potential opportunities for significant returns, there is also a risk of losses.
Stay tuned for more updates as these anticipated events unfold in the coming months.
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