Crypto currencies rebound on today's Fed rate hike announcement. What's next? (Prediction)
This afternoon, the Federal Reserve announced another rate hike by 75 basis points, and cryptos were sent flying! This, after a softening of the market over the last week or so. Even better, it seems that the crypto naysayers who claim that BTC could still sink to $10,000 appear to be wrong. What's next? More below...
Pictured below: Paul Barron does a great job in giving level-headed coverage of the crypto market.
Please note that the following is not intended to be financial advice! It is merely my own 'prediction' or opinion of the potential price movements in the crypto market, and should be taken as entertainment purposes only. Be sure that you never invest any money that you can't afford to lose, and apply sensible, dollar cost averaging techniques to minimize losses.
OK! The crypto market has had a nice little boost with today's Fed announcement that could keep most major (and smaller) coins moving right through the third week in August as I've predicted in many of my previous posts. And, there are oh-so-many opportunities here to double your money, or even more over the next 3-4 weeks, in my opinion.
As I mentioned previously, I have some APE which I may actually swap out within the next few days for The Sandbox (SAND), which, surprise, surprise, should see even more significant moves over the next few weeks. I'm thinking at least $6-$7 (boy do I hate to give price targets!) by the end of August (it's currently at $1.27 at the time of this writing), with the biggest surge in price near the end of the year, as I outlined in a previous post. (OK, here I go again...I can "see" $28 for this coin by first quarter of 2023 at the latest).
Likewise, another of my favorites, Uniswap (UNI), has been a big mover on today's news (currently up 26% over the last few hours), but I don't see the same level of upward movement with this coin that I "see" with others over the next 3 weeks. I think SAND is a much bigger mover through August, and then again during the 4th quarter so I'm sticking with it as my #1 pick for the short- and longer terms. I can still see a big, big spike for UNI right near the end of the year, so watch for more updates there.
The bottom line is, I think the crypto market will continue to see steady gains into August, peaking around the 3rd week in August. Of course we know that the Fed will be making more announcements in September, but I'm not sure that the news will be good for cryptos at that time, so be cautious.