SHORT TIME EMOTION IN CRYPTO

Bitcoin dropped over $1,400 and all other cryptocurrencies are in the red. Many investors are afraid of what Jorrom Pal and FED would do in the next meeting after getting a serious CPI percentage. Despite the FED increasing the interest rate, people are starting to believe that the FED chairman will need to increase the interest rate and if that is done, it make the US economy in a prolonged recession.

---

Bitcoin dropped below the 50 and 200 EMA but it found its support at the 100 EMA. Bitcoin drop about 5.6% because of the alarming August CPI data and this made investors panic. The August inflation rate is higher than what people expected. We are seeing that things are getting expensive in the second months of a roll but there is a reduction in the price of energy and fuel cost. We see the FED as stressing inflation and recession for many months. Right now, we are now seeing inflation slowing down and that means the FED will have to raise interest rates by another 7.5 bases points or 0.75% points.

---

Watcher.Guru twitted that Citadel, Fidelity, and Charles Schwab announce to launch of their own crypto exchange. This is a good sign because these are some of the largest transitional financial company that is now planning to dive into the crypto space. This shows that they are bullish on the crypto space and that means if the crypto market goes back to normal, we going to be seeing a lot of profit. Until then, there will be a lot of volatility in the market.

---

These companies that want to dive into the crypto space are very big. For instance, Fidelity is one the largest fund managers and they have about 1.2 million consumers this will definitely help increase the growth. If you are the type that betting on the future of crypto, you do not have to do anything special, you just have to hold your position. When you are making investment decisions on crypto, you should make sure you are not doing it based on short time emotion but on a vision.