FED PIVOT WILL DEFINATELY HAPPEN
The entire cryptocurrency industry, including bitcoin, is booming. Numerous people predict that the federal reserve will change course very soon. Remember that the Federal Reserve will likely hike interest rates by 0.75% at its upcoming meeting on November 2nd. The rate increase won't go forever because the Fed may decide to slow it down at some point, perhaps after November. We don't know when that pivot will occur, but it will. When the pivot occurs, a bullish wave can be released.
The FED's shift will occur, but the bottoming of the bitcoin price won't come immediately. The role of the federal reserve is not to increase the price of cryptocurrency but to curb inflation. The economy and the cryptocurrency market are impacted as a result of the effort to curb inflation. The fact that so many people are still discussing the recession suggests that there may still be market hardship ahead. You merely need to exercise caution during a bad market since false pumps frequently lead prices to decline.
We observe British MPs voting to accept Bitcoin. Although that is brand-new, it has nothing to do with the recent surge in the price of cryptocurrencies. The bolingan band is currently at one of its lowest points ever. Even in the cryptocurrency market, this kind of tightening in the market always precedes extremely high volatility. Price activity isn't always affected by the extreme volatility. The key question is whether the current level of volatility will cause us to fall in the coming weeks or if the market will hold its ground. The market may decline as a result of the macroeconomic news, but there is always a great chance that Bitcoin will rebound. Due to the fact that bitcoin has broken the support level, a significant bull market may be about to begin.