Source: CNN Fear & Greed Index as at 23 Sep, 7:58pm EDT
The Fed once again communicated its aggressive stance in the fight against inflation, with most of them seeing the rate climbing above 4.5% in 2023, higher than the prior estimate. The 2-year Treasury yield, often seen as an indicator of the fed-funds rate in the future, is continually climbing too.
With these, the equity markets took another fall, with technology stocks leading the plunge. Although there's no direct correlation between economies and the crypto markets, I am not hopeful that crypto markets could pick up anytime soon when market sentiments are very low.
I really wonder how 2022 will end off for all markets.
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@cravis
The fight against inflation is becoming a nightmare. In our case, the South African Reserve Bank's Monetary Policy Committee (MPC) has hiked the repo rate by 75 basis points. Our repo rate is now 6.25% per year from 23 September 2022, with prime now at 9.75%.
I also think the crypto market will likely struggle to make significant gains. But crypto investors can also take advantage of these depressed prices to lower their cost basis and position themselves for profits when the market regains momentum.
I think markets will generally do well in the long term and it's probably not worth timing the market.
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