PeterMosesLee

peterbllee@bbs

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I was in the accounting line for decades but did poorly because of https://bbs.market/MEMORE/posts/dUw7bXuAZfNcr01XoBUO Recently I changed my career to become a ✍️writer so that I can work slowly without irritating bosses

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APPROVAL OF CRYPTO SPOT ETF (BTC And potentially ETH) & BTC HALVING = Crypto Prices Going Higher?

What are your expectations for crypto prices over the next 3 months and up to the end of 2024Jan 29, 2024

RoundtableCrypto

Is A Recession Coming? How will a recession affect Crypto Prices.

Cryptos are supposed to be an asset class that can be used to hedge against inflation. The Feds started to raise interest rates in March 2022 to fight inflation. Up to July 2023 they raised at an unprecedented rate and over that stretch of 17 months raised rates 11 times. Did they overdo it and cause the economy to turn into a recession instead? How will a recession affect Crypto prices? Will they go down together with the price of other asset classes like stocks and real property? I believe that a recession will cause asset prices to go down. But the fall in Crypto may be less severe than for say, stocks. Being an asset class that is considered volatile, it cannot be ruled out that the initial drop in Crypto is more severe. However I believe the drop will taper off and recover faster than stocks and real property. What do you think? But in the first case, do you think that a recession will happen? Consensus forecasts from major banks, including Goldman Sachs, Morgan Stanley, UBS and Barclays, are for global growth to be constrained in 2024 by elevated interest rates, pricier oil and a weakened China, but with low odds for a recession. A year ago, many banks were forecasting a U.S. recession. According to the major bankers, the odds of a recession are low and are lower than the odds a year ago. Do you believe the major banks? Based on what businesses (Wall Street) are saying it does not seem to be so. Businesses seem to be more pessimistic. Generallty fund managers seem to agree with the Wall Street. So what will fund managers do with the funds they manage? Do you think that these institutional investors will go into Cryptos? Will they be "smarter" Than the man in the street (us generally) and be able to better time their investment into Cryptos? The timing of the approval of spot Crypto ETF's will have an effect on when the institutional investors go in. Currently they may be prevented from doing so by regulations. The approval by SEC of spot ETF may be required before they can do so. This is why there is so much excitement over the possibility of the SEC approvalsDec 21, 2023

RoundtableCrypto

Will expectations of Fed rate cuts strongly boost crypto prices?

In the 17 months of March 2022 to July 2023, the Feds raised rates 11 times taking their band from 0 - 0.25% to 5.25 - 5.5% Yesterday was the 3rd FOMC meeting they have left the rate unchanged since the rate hikes ended. In the first 2 meetings the Feds rates was left unchanged as a pause but kept the possibility of more rate hikes open. They also said that they expect rates to remain high and did not project any rate cuts in the near future. Yesterday's FOMC also kept the Feds interest rate unchanged but significantly changed their projections of the future. Instead of saying that they expect rates to remain high for a long period (with the possibility of further rate hikes if necessitated by inflation) they projected 3 rate cuts of 0.25% each in 2024 and 4 rate cuts in 2025. The futures market is pricing in rate cuts even more aggressively than the FOMC. The futures market has priced in rate cuts of 1.5% for 2024 or double what the Feds projected. From the recent high of $45K, the price of BTC has retraced to around $40.1K. Immediately after the FOMC announcement markets including cryptos rallied. Do you expect cryptos to continue rallying because of rate cuts? Which do you think will have a greater impact on crypto prices: Fed rate cuts or expectations of the approval spot ETF for BTC and/or ETH? 🤔Dec 14, 2023

RoundtableCrypto

Is Bitcoin overbought and due for another correction?

What are your short term (say the week just strarted) expectations for the price of BTC? What are your expectations if the time frame is increased to 6 months and/or to the end of 2024? What do you think will happen first:  Drop below 38K or exceed 50K?  38K was a resistance level that was broken in the last week of November 2023. Will it become the support level that BTC will stay above?  My expectations are in my post hyperlinked here.  Most of the people who have yet to start buying are still afraid to buy at the moment when the price is between 43K to 44K. What price will it take for the fear to buy change to the fear of missing out?Dec 11, 2023

RoundtableCrypto