A HIKE IN INTEREST RATE
The interest rate was recently increased by the Federal Reserve by an additional 0.75%. There are no major surprises because everyone anticipates it. The Fed chairman also predicted that the final rate level will be higher than anticipated. How long will this rate hike last is the key question. Because we are just provided the specifics, we cannot be certain. We need to be ready for a higher rate than we had anticipated.
The Fed Chairman also stated that it will be time to slow the rate as soon as the December 16th meeting and that it would likely be reduced to 0.5% at that time. Yes, it is what we have all been anticipating, and I believe the cryptocurrency market will respond.
You should be aware that Dogecoin is the major news in the cryptocurrency market. Of course, the question of whether Twitter will accept Dogecoin payments arose after Elon Musk, the richest man in the world, posted a photo of his Shiba Inu dog wearing a Twitter shirt. Since Elon Musk enjoys trolling everyone, no one can say with certainty whether Twitter will accept dogecoin payments or not. The moment Elon Musk took control of Twitter, dogecoin experienced a massive rally. This rally was particularly spectacular because dogecoin has been in a downtrend since May of last year.
I'm not sure whether what some people predict will happen, which is that when we see dogecoin surging, it will lead to a major altcoins season.