edited using Canva.
There are reasons like Q2 is about to begin and halving is in a month from now which means people will de-risk to take better position in the peak bull run ahead.
FOMC - Powell Gave a Green Signal
From couple of days market was going down because of heading into FOMC. so it happened today and we've the same rates like before, no rates changed by fed means interest rates are totally unchanged.
It turned out even good when Powell came to speak, he said they're expecting three cuts this year.
Also Powell said current interest rates are at its peak - can't go more higher than where it is.
Image by from Pixabay
These two things he said in the meeting today were good enough to make stocks and crypto go higher, stocks at new all time high already and Bitcoin is now moving higher with Altcoins.
SEC Going after ETH before ETF
There's a new ETH FUD from SEC to make people believe they're going to reject ETF that's similar thing we've seen with Bitcoin ETF before.
SEC is wagging a compaign to classify ETH as a security and also Ethereum foundation is under investigation by state authority. These are the two fuds and i believe this is ETH/BTC bottom.
This is the same SEC that couldn't win the lawsuit against XRP as security and now coming for Ethereum which is far more clear and better than XRP as a commodity.
Image by Sergei Tokmakov, Esq. from Pixabay
There's another thing that sec saying eth is a security while CFTC commented that ETH is a commodity..both are inter agency open regulatory and have different opinions on the same thing.
The other day BlackRock deposited 100 million in ETH opened a fund and today this news in the market ain't a coincidence.
In my opinion it's going to end up good for ethereum and $10k per ETH is inevitable if we get more headlines like we got today.
A relief Rally Pre Halving
Now after today's FOMC meeting we're in a relief rally..shakeout did happened and people got sidelined this time for sure.
Everything looks great, Bitcoin will have to get that $76,000 before halving and liquidate around $2-3billion, the shorts were pilled now make sense for liquidation.
ETF inflows need to catch up again, they were negative because of FOMC I believe, and now when it's clear.. it's possible to see new all time highs inflows.
I doubt we'll get any market wide nuke -40% to -60% nuke on Altcoins before or post halving.. It'll chop around for a while and than going to continue uptrend.
Wrapping Up...
In the end these days of worries are gone, there's more certainty in the market and hopefully it will last longer this time.
I bought more hive and wanted some time to buy more but now It's going higher already. Well, let's sit tight and enjoy the ride. Do let me know what you think about the market in the comments, excited about the bull run.
