Chairman Jerome Powell will be speaking in 4-5 hours' time.
Why does this matter and how will it impact crypto? What actions should you take to survive another day of volatility? We explain:
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DISCLAIMER: This content is for informational purposes only, you should not construe any such information or other material as financial, legal, tax, investment, or other advice.
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Powell's comments on the economy & interest rates can significantly affect investor sentiment & the value of #crypto.
Here's how #Bitcoin reacted historically:
30 Nov 2022 - #BTC went from $16.7k to $17.1k in 1h
28 Sep 2022 - #BTC went from $19k to 19.5k in 1h
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There were extreme volatility hours before and after the speech as traders looked to capitalize on what Fed was going to say, will say, and what the address mean for the near future.
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What the speeches entail:
- Is the Fed still looking to raise interest rates across the board to combat inflation?
- Is the Fed looking to pivot?
- Is the Fed 'hawkish' or 'dovish' about the market?
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There are a few words/sentences to look out for during the speech to understand where the market will head not only a few months but the next few minutes.
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What can you do to possibly profit from this event?
We previously highlighted a few tips:
MultiHODL-ing in both directions:
twitter.com/YouHodler/status/1597448587759144961
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Sticking to the plan:
twitter.com/YouHodler/status/1600426980209410048
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Using DUAL:
twitter.com/YouHodler/status/1598261996540993536
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Conclusion:
Stay safe, manage your risk, and happy trading MultiHODL!
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👉 app.youhodler.com/multihodl
👉 app.youhodler.com/dual