OpinionBitcoin and crypto due for big rally soon! Here's why

Bitcoin and crypto due for big rally soon! Here’s why

Bitcoin and crypto due for big rally soon, we’re going to talk about why the bull run may come much sooner than you think and maybe one reason why there might be a hiccup on the way.

So the jobs report came in very very good today way better than what people were protected. Predicted payrolls in the united states increased by 528,000 in July. Now, most people in the united states are saying very mild recession if any recession at all those in Europe in the UK are saying they’re getting pwned but those are two different scenarios. 

Bitcoin and crypto due for big rally, in the united states, I do think the recession is going to be very very mild if at all and I do expect things to recover with start to recover within a month or two. Gas prices are going down brent’s under a hundred oil is almost under 90. The gas price outside is like 340 and it’s quickly dropping. So I think with that inflation is going to start to go down. As well we’ll have to see the inflation numbers next month and crypto reflects the overall economy so crypto should go up as people uh get alleviated of recessionary fears.

When people aren’t fearful anymore they will buy extra investments like crypto and yes crypto is not a hedge for inflation crypto is not like some kind of safe storehouse crypto is a risk asset and risk assets get bought up when people are no longer afraid and I think the fear uh greed index is going to tilt towards breed very very soon.

Bitcoin and crypto due for big rally, so towards the end of the year, we should get a fairly large recovery like I said you know the thing is I thought bitcoin was in the year around 35 to 40,000  dollars that we actually might in the year above 40,000 dollars and we might get a significant pump towards the end of the year as the holiday season rolls around because people have been afraid of recession for the entire summer but now I think those fears are going to be very much in the rearview mirror as everything comes up.

So payroll’s increased 528,000 but there’s a pinch of salt to this because payroll’s increased so much the fed is probably not going to slow down its rate hikes and rate hikes depress the market. My guess is the fed might be more aggressive and continue with the 75 basis point rate hikes. 

It does not seem like those rate hikes are affecting the economy that much anymore. I do expect the fed to be somewhere between 3.5 and 4 percent now for interest rates but we’ll have to see what the inflationary numbers are.

If the inflation comes down significantly in the next august numbers I expect September’s rate hike to be lower so hopefully inflation comes down but with the gas price coming down so much I would think that the inflation numbers will come down.

Bitcoin and crypto due for big rally: Hiring is still very very strong and that means people are going to have money to buy stuff and since people have more money to buy stuff uh they’re going to buy crypto as a way of investment. So I like the way the market is going right now. I think the fears of a massive drop are way overblown outside of maybe another black swan event like tara luna I just don’t really see it and obviously, today is pretty flat because even though people are happy about the employment numbers they’re afraid that the fed is going to raise inflation rates at a much faster pace because the employment numbers were so good.

Related: Crypto is ready for a Bull Run in a recession? Here’s why

If you look at the breakdown of leisure and hospitality plus 96,000 construction plus 32,000 manufacturing plus 30,000 thousand professional and business services plus 89,000 health care plus 70,000 retail trade plus 22,000. So the economy is still pretty strong the job market is pretty strong you know we’re not going for a reset or anything overall we’re doing perfectly fine. Also, many of the earnings beat street estimates so you can see that companies are not hurting. So with that, I do expect people to read crypto to rebound much sooner than people haven’t anticipated.

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