‘All Bets Off’ – Crypto Now Braces for $8.9 Trillion Earthquake as Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, Dogecoin Swing

Bitcoin and cryptocurrency prices have swung wildly this month as traders try to gauge the mood of the Federal Reserve and the co-founder of Ethereum reveals his surprise “upside” forecast.

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The price of bitcoin – after crashing through the first six months of the year as the Federal Reserve started raising interest rates – found a bottom line in July, rising about 10% since the start of the month. Meanwhile, Ethereum prices are up nearly 50% due to the hype around their planned development, helping the top 10 cryptocurrencies BNB, XRP XRP, solana, cardano and dogecoin to rally.

Now that leaks have revealed a “big red flag” for Bitcoin and Coinbase, the market is preparing for the Federal Reserve to go “bigger and longer” in its fight to fight hyperinflation as it accelerates its $8.9 trillion cut. balance sheet.

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More Forbes to Come – Prince Makes Shock Prediction for Crypto Amid BTC and Ethereum Rebound

Federal Reserve Chairman Jerome Powell is walking a tightrope between hyperinflation and… [+] Recession, causing the stock markets and the price of bitcoin, ethereum, BNB, XRP, solana, cardano and dogecoin.

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The Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday of this week, and it is expected to raise interest rates by another 75 basis points, in line with the June rate hike.

Earlier this month, following the sharp CPI reading in June, traders expected the Federal Reserve to raise interest rates by a full one percentage point.

“Financial markets started pricing in a 1 percentage point rate increase at this meeting, but Fed officials seem to have talked away from that possibility,” Ross Mold, chief investment officer at brokerage AJ Bell, wrote in comments via email.

Markets are now pricing a 70% probability up 0.75% to 2.50% and a 30% chance of a full 1 point rise, according to CME Fedwatch data. By the end of 2022, the market puts a 90% probability of the fed funds rate reaching at least 3.50% as the US central bank struggles to bring down inflation from a 40-year high of 9.1%.

“But it all depends, and is assuming, that inflation will peak very soon,” Greg McBride, chief financial analyst at Bankrate, told MarketWatch. “If not, all bets are off.”

According to Mold, the PPI reading of 11.3% this month, close to March’s record high of 11.6%, “suggests there may be more pain ahead.”

The Fed is also set to accelerate its so-called quantitative tightening plan that has already reduced total Fed assets by $66 billion from their peak of $9 trillion, increasing to $95 billion per month as of September.

“The Fed’s total assets of $8.9 trillion still means the central bank’s balance sheet is 8% larger than it was a year ago, 114% larger than it was before the pandemic in February 2020, and nearly nine times larger than it was before the Great War. The 2007-2009 financial crisis”.

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More Forbes ‘crisis on the horizon’ – Leak reveals ‘key’ red flag’ for coin base amid Bitcoin, Ethereum and crypto price volatility

Bitcoin price soared above $20,000 per bitcoin this month after crashing under… [+] A closely watched level is causing price swings for Ethereum, BNB, XRP, solana, cardano and dogecoin.

Forbes Digital Assets

Some market watchers and investors fear that US inflation is “embedded more deeply” and will need a “bigger and longer” response from the Federal Reserve to bring it down.

“My view is that the fed funds rate could go well above 4%,” Joseph Seidel, senior investment analyst at Blackstone’s Private Wealth Solutions Group, told Bloomberg. “I think they could go over 4.5%, maybe closer to 5%.”

However, after a difficult few months for the stock market and bitcoin and cryptocurrency prices, some analysts are hoping that softer language from the Federal Reserve this week will bring some welcome relief.

“If they come up with a 75 basis point rise as we expect but tone down the language on future hikes, that will be a huge boost for markets next week,” Luke Tilly, chief economist at the Wilmington Trust, told Barrons.

Sources 1/ https://Google.com/ 2/ https://www.forbes.com/sites/billybambrough/2022/07/24/all-bets-are-off-crypto-now-braced-for-a-89-trillion-earthquake-as-the-price-of-bitcoin-ethereum-bnb-xrp-solana-cardano-and-dogecoin-swing/ The mention sources can contact us to remove/changing this article

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