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
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