- FOMC meeting nears and the crypto community prepares for impact.
- Could the crypto market see a bullish green price reaction?
- The final months of this year could see the altseason peak phase.
The crypto community is raising hopes for crypto prices to soar in the final two months of the year, especially for altcoin prices. Presently, the Fed’s FOMC meeting nears, and the crypto community is hoping to see bullish green price reactions. At the moment, several analysts are sharing their two cents on what they expect will happen with crypto market prices if certain factors turn out a specific way.
FOMC Meeting Nears and the Crypto Community Prepares
Ever since the $20 billion liquidation event that wiped out nearly all altcoin leverage and long trades, sentiments for new ATH prices for BTC and the likelihood of altseason have nearly disappeared. Instead, bearish expectations have taken over the market, and reputed crypto analysts are debating over bearish and bullish outcomes. At the moment, bearish analysts believe that the bear market has begun.
This expectation is based on the fact that the 4-year bull cycle may be timing out, meaning the bull market has played out and the bear market is already in its starting stages. In contrast, the bullish analysts state that a bull cycle cannot end without altseason playing out, and so far, only a few altcoins have gone on to hit new ATH prices, including the pioneer altcoin Ethereum (ETH) , which barely entered price discovery.
Some seasoned analysts are adamant about the possibility of the bull cycle still playing out. As we can see from the post above, this analyst says that Bitcoin and altcoins are an asset class that tend to outperform everything else in a more positive business cycle, and expects a similar positive business cycle to play out soon. Presently, analysts are waiting on the latest FOMC meeting play out.
Based on financial market reactions to what will possibly be a 25 bps rate cut, this analyst believes that gold has already hinted at which direction the markets will go. This is because the price of gold seems to have topped out and has fallen slightly, meaning price rotation into crypto assets may have begun. Thus, the analyst concludes that a crypto market price surge may arrive after the meeting and hopes to see BTC hit one final new ATH this bull cycle in the $150,000 price range.
Will the Crypto Market See a Bullish Green Price Reaction?
Meanwhile, another reputed crypto analyst shares his take on the current market. He begins by stating that US stocks are hitting daily highs while Bitcoin is struggling to break $116,000, hinting at the price of Bitcoin being heavily suppressed by market manipulation and leverage. Eventually, price rotation from gold and stocks will ensue, leading to new ATH prices for BTC and ETH between $150,000 – $180,000 and $7,500 – $12,000, respectively.
