Proof of Prophecy: As predicted, the Fed's September news not-so-great for cryptos. What's next?
Back in my July 27, 2022 post, I wrote, "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." Sure enough, the Fed's recent news has had a negative impact on the markets (why is anyone surprised?!), including the crypto markets which plunged after a solid showing in the first two weeks of September (check out my most recent prediction indicating that this would happen).
Could the crypto market go any lower? More down below...
Pictured below: Here's today's BTC price chart, which shows the upward movement in price over the first two weeks of September followed by a pullback on this week's Fed announcement. But, be aware that today's lows could go a smidge lower over the next week or so... Click here to read my most recent prediction on this subject>>
OK, so I've said this several times before, but I'll say it again since the time is upon us: As many others are also predicting, the crypto market will dip during the third week in September, and we can see this unfolding right now! No big deal...this will be a great time to re-enter the market (in my humble opinion), because I honestly do not see the market going much below these incoming lows.
However, it will be a grueling climb for your favorite coins through mid- to late October (buy the dips with your spare change) but there's a big pay-off coming around Halloween into early November!
I personally will be holding my crypto just into early January and then stepping back until the May/June timeframe of 2023. I say this because I expect the dollar to gain even more strength over the euro (as I outlined in a previous post) around the Feb/March '23 timeframe, which means weakness in the crypto market. June '23, in particular, will be an incredible month for crypto gains, so be sure to protect any gains you earn in the upcoming months for this opportunity.
Finally, I want to remind everyone that you should never invest any money that you can't afford to lose! I personally have a side business which is growing and I expect it to become my primary business next year, despite the poor economy. I would never gamble my income from that business in the crypto market, but instead, I'm re-investing it in more inventory and potential long-term growth.
With that being said, there is risk in just about everything that a small business owner like myself does, especially in light of where the U.S. economy is now, so I do take some of my small little windfalls from other "side hussles" and put it in (and out) of the crypto market, just for fun. I would never ever leverage my home, retirement savings, or vehicle on such things! It's just too volatile and dangerous for the average investor.