FED PIVOT WILL HAPPEN

Bitcoin and the whole cryptocurrency markets are pumped. A lot of people are saying that we are going to see a pivot very soon from the federal reserve. Don't forget that the next federal reserve meeting is on November 2nd and it is expected that they will raise the interest rate by 0.75%. The rate hike won't continue forever because we are getting to a time where the fed could slow down the rate hike maybe after November. That pivot will happen but we don't know when it will happen. When the pivot happens, it could release a bullish wave.

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Although, the FED pivot will happen, the bitcoin bottom will not happen overnight. The federal reserve's job is to control inflation not to send the price of crypto higher. In the process of controlling inflation, it makes affects the economy and the crypto market. Many people are still talking about the recession and that means we could still see more pain in the market. You just have to be careful will the bear market because they are usually fake pumps which make end up going down.

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We see United Kingdom lawmakers votes to recognize Bitcoin. That is treating new but that has nothing to do with the recent pump in the crypto market. The bolingan band is at one of its lowest levels in history. This sort of tightening in the market always comes before huge volatility even in the crypto market. The huge volatility doesn't always of price action. The big question is, are we at the moment the volatility is going to lead us lower in weeks or the market will reserve? The macroeconomic news may lead the market lower but the is always a huge potential that Bitcoin could bounce back. There make be the start of a major bull market because bitcoin has broken the support level of $20,500. We just to watch how the market behaves in the next few days. Let's just hope the market move above $21,000.