wow welcome back everybody to altcoin daily we have a lot to talk about in today's video
most importantly let's answer the question why is the market pumping what are the big takeaways from
what we learned what's happening in the world today just like always guys we're gonna break
it down for you news opinion perspective this is why you subscribe and let's start right here
the biggest news of the day is the fed the federal reserve released policy for the short term future
the takeaway is actually what a lot of people suspected the federal reserve
is delivering an interest rate hike of another 75 basis points today lifting the target range
of its benchmark interest rate to between 2.25 and 2.5 percent of course if you follow us on twitter
by the way we just reached a major milestone on twitter 1.2 million followers if you follow us on
twitter you already know some of this stuff but in today's video gives us a chance to break it down
if you appreciate that smash the like button and let's get into a few of my thoughts so first of
all what everybody was expecting to happen did happen about an hour ago so here's six takeaways
number one the market was expecting a 75 point hike or so so alone this would not come as a
surprise or shock to the market and it didn't as a matter of fact as i'm saying this the market is
slowly going up so what exactly does a rate hike mean well bank lending requirements are tightening
and that process will accelerate this means less and less money for risky investments
don't know how much institutional investment is going to change though and we little guys
are mostly out of cash anyway so there's that number three if second quarter numbers look grim
at least worse than everyone is predicting in addition to a rate hike it might push the market
down further and again so what we're seeing with the fed raising interest rates tightening getting
more responsible usually means that risky assets are in trouble usually would mean what we've been
seeing bitcoin going down yet bitcoin went up but there are a lot of factors contributing to this
so part of where the market goes from here is going to be the same as the stock market
it depends heavily on how well the fed can manage inflation i mean that's the big one
if the fed rate hikes prove to be successful we might have better days ahead if not well it will
not be only crypto which would go to doom spiral i suppose so the next few hours the next few days
in fact are going to tell us where we stand and so far it's looking pretty good you do you but
i would not buy until i see a nice dive which actually might never come so anyways who knows
for now it's nothing new nothing game changing has been added to the picture what we expected
to happen did happen if the situation keeps going like this i expect to see a relief rally which in
fact we may be seeing tell me what you think in the comments below so what are some other
takeaways again the federal reserve is recognizing that inflation is running at a 40-year high
so to combat this they have raised interest rates again 0.75 percent the largest hike since 1994.
usually this would see bitcoin and risky assets go down but bitcoin went up why is this perhaps
it is because there is no denying inflation now bitcoin up 7.5 percent combined with the
fact the world is getting more digital and we need a permissionless way to transact and all
this stuff i mean people are just realizing what bitcoin is and that it's here to stay
so this is a big takeaway today should emphasize that even if the fed isn't yet pivoting and may
not pivot for longer than expected meaning even if the fed isn't going to increase the rate of money
printing at this moment in timer isn't going to decrease the interest rates at this time
when this happens when the fed pivots bitcoin will launch big time i tend to agree with this
so now that the fed meeting is over it's back to longs and accumulation at least for the next
few months even if it is just a relief rally the next consumer price index numbers will be better
bitcoin back to pumping right on schedule and another three charts which are actually incredibly
revealing so this is total altcoin market cap this is total bitcoin market cap and this is dxy
basically the dollar index notice something notice how the alt coin market cap in the bitcoin
market cap they're both at pivot points looking likely that they're about they've been going down
looking like they're about to hit an inflection point and start rallying up at the same time
when the dollar is looking like it's hitting an inflection point and might be due for a correction
so this makes me bullish for august either way inflation is happening and people are realizing
what an incredible problem this is that the few can control this for the many and the poor are
the ones who get devalued so yep just in due to inflation kanye west says one good girl
is now worth 1174.32 [ __ ] rather than a thousand but it's important to remember that bitcoin is
available and the inflation rate of bitcoin is set in code for the next 10 000 years and you are here
and it's not just bitcoin i'm so excited about the future of this space in general i mean ethereum
going into the merge is looking great ethereum number of addresses holding just one ethereum
just hit a new all-time high so people seem to be buying in and behind the scenes people are working
on policy and building and all sorts of stuff behind the scenes even if you're not working on
cryptocurrency every day people around the world are working on cryptocurrency in the future every
day let me share with you a couple stories number one first of all u.s senators proposing bill
to cut taxes on 50 crypto payments so senators patrick toomey and kristin cinema have introduced
a new bill to the u.s senate to exclude small crypto transactions from capital gains tax
requirements this is i mean obviously this is a no-brainer right the bill would apply to
transactions worth less than 50 with a provision to adjust that benchmark alongside inflation
50 is okay i prefer the 200 you know similar bills putting the benchmark at 200 have been
introduced to congress in the past but either way this stuff is getting worked out every single day
behind the scenes and we are here for it most people are going to wake up one day and just
realize that this is all part of our daily lives you and me we're getting to witness it happen on
a daily basis for instance university of tokyo to offer engineering courses in the metaverse
so the university of tokyo will offer a series of engineering courses using metaverse tech the
courses which are projected to start being offered later this year will introduce students to the
subjects of engineering and will combine this knowledge with skills to handle metaverse-based
worlds to manage the digital transformation that work and educational environments are undergoing
very interesting the future is metaverse my friends august is looking bullish to me just an
opinion anything could happen and new information i change my opinion but august is looking bullish
to me at the very least i'm seeing a relief rally as we go into the merge nfts looking
like they're about to start popping off august is my birthday i hope it's a great month for crypto
that being said my name is aaron at altcoin daily subscribe to the channel like the video
we drop a video every day we keep you informed on a daily basis join the team see you tomorrow