Listen up, everyone. The Federal Reserve's interest rate decision at 2 AM on May 8 is definitely the top priority in the crypto world right now! In my opinion, there are only two possible outcomes:
First scenario: If the Federal Reserve does not cut interest rates in May, many people in the market have actually prepared for this. If they really don't cut rates, Bitcoin will likely experience a correction, and the cryptocurrencies we hold may shrink in value.
Second scenario: If the Federal Reserve directly cuts interest rates in May, Bitcoin would likely soar like a rocket! Just imagining that scene is thrilling.
Currently, institutions in the market are acting like they’ve gone crazy, frantically buying Bitcoin. I tell you, once the Bitcoin price breaks the $100,000 mark, that $3 billion of 'southbound capital' (the money flowing out of our country to speculate on cryptocurrencies) will likely be instantly absorbed by the market. To those market makers, that $3 billion is like a juicy piece of meat, and they’re practically drooling over it.
The recent market trends have been particularly noticeable. Bitcoin hits a new high every day, but just a few days later, that high becomes a low. The candlestick chart shows a slow and steady upward movement, but those betting against Bitcoin (the bears who profit from falling prices) are suffering terribly, getting trapped deeper and deeper, unable to escape. I figure that those market makers definitely won’t easily crash the market to let the bears out; they are hoping the bears get more and more trapped so they can make a fortune!
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