In this week’s episode of Market Talks, we welcome Yashu Gola, a Mumbai-based financial analyst and technology journalist with a strong focus on bitcoin, smart contracts, exchange assets, NFTs, commodities, and global stocks. Yashu has been covering the cryptocurrency industry since 2014 and does not expect to stop anytime soon.
First things first, the Fed has just announced a 75 basis point increase in the interest rates after which the markets took a tumble. Why did this happen and what difference does it make to you and why should you be concerned? We ask Yashu to break it down for us.
Is Jerome Powell just lengthening the economic pain by slowly increasing interest rates or should he just rip the band-aid off and increase the rate to the year-end target of 4.4%? What impact would that have on the market and how will the number one cryptocurrency, Bitcoin (BTC), react to it? What is the Fed’s actual plan to fight off inflation and is it really working?
Is there more pain in store for Bitcoin? With the US dollar on the rise, it seems that more and more people are running towards cash and cash-based instruments compared to supposedly riskier assets. If the Fed decides to raise interest rates by another 75 basis points could more Bitcoin drop lower than its current technical support range of $18,000–$20,000?
We also ask Yashu if he’s keeping an eye on any significant Bitcoin price levels and what they might be, considering all the macro factors at play. Will Bitcoin ever decouple from the traditional stock market? What would it take for that to happen? Yashu enlightens us with his thoughts on the topic.
Tune in to have your voice heard. We’ll be taking your questions and comments throughout the show, so be sure to have them ready to go.
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Source: Cointelegraph.com[mailpoet_form id="3"]