In this video, we explore the uncertain short-term upside target for Bitcoin and dive into the current market sentiment. While there's plenty of negativity out there, some of it is actually in favor of Bitcoin and the "Unbank Yourself" movement. With the Fed's decision coming up, we discuss how their actions might impact the crypto market.
Our prediction? The Fed might raise rates slightly and flip their previous statements about not raising rates. If this happens, we could see a positive market reaction, potentially pushing Bitcoin to the 30-40K range.
I haven't sold any Bitcoin but I've put on a small short as a hedge against their holdings. We also delve into the theory that we're currently in a limbo stage and discuss Cat's opinion that the Fed's comments might be more neutral.
Lastly, we touch upon the pressure banks are putting on the Fed to pause rate hikes and how they might benefit from such a decision. Join us as we navigate these uncertain times and offer our insights into the ever-evolving world of crypto!
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