Market Update

Is Now The Perfect Time To Buy?!

12 Sep 20242min
Crypto Market Overview
It’s hard to write an update that doesn’t focus on America’s antics, mainly because there’s always something to talk about but also because it's the largest economy on Earth. The presidential debate happened recently and it’s widely recognised that Kamala Harris surprised viewers with her poise, public speaking and intelligent responses. The crypto markets responded poorly to this as Trump is considered the Bitcoin Candidate after exclaiming that he plans to create a sovereign wealth fund holding BTC.
This negative energy was largely countered by Jerome Powel signalling a shift in fiscal policy is on the horizon, meaning lower rates. Lower rates mean you get less from holding cash in different investment vehicles, which increases the likelihood of people searching for alternative sources of value. As with all news, the markets overreact so news of a potential rate cut fueled buying interest in crypto. Since 2019 there has been an inverse correlation between Fed rates and the Bitcoin price.
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Investors remain wary with Russia/Ukraine, Middle East and South East Asia tensions remaining unresolved. Global instability often causes a flee to cash so fear of a similar outcome is preventing institutions from taking large positions - Berkshire Hathaway has sold off over $75bn of its shareholdings into cash as a result of such uncertainty.
Stay safe out there!
DISCLAIMER: The information on this blog post is for general information purposes only. It is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal practitioner or financial or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal or financial product. Block Earner does not recommend or endorse any particular token.

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