• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Expert Alerts Investors To Be Careful In The Cryptocurrency Rally, Why's That?

Expert Tells Investors To Be Careful In The Cryptocurrency Rally, Why’s That?

Denis by Denis
6 months ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

A crypto influencer, Alfonso Peccatiello, expressed his thoughts as regards the recent cryptocurrency rally. He stated that the current crypto rally is not a yardstick for investors to raise their hopes too high. This was revealed following the increase in certain digital currencies such as Bitcoin and Ethereum in the last 24 hours.

A recent crypto market watch showed a 24-hour price appreciation of Bitcoin of more than 9%. Currently, BTC trades at a price of over $23,000.

Meanwhile, Ethereum, the second largest digital currency, has also experienced a rise in its price. Its 24 hours price increase got over 13%. Presently, the token trades at a price above $1,600.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

The surge in the prices of these cryptocurrencies followed the Fed’s decision to hike its interest rate by about 75 bps.

Alfonso’s Thoughts On The Current Rally

A renowned crypto expert and author of The Macro Compass, Alfonso Peccatiello, gave his thoughts concerning the current crypto rally. According to Peccatiello, the recent digital currency surge should not be a reason for investors to be excited. He stated this, backing it up with an explanation.

Related Reading: Bitcoin Makes Surprise Climb As Fed Discloses 0.75 Point Rate Bump

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Peccatiello first admitted that the speech of the Fed chair, Jerome Powell, triggered the rise in the prices of cryptocurrencies. But, there is a need for his speech to be guided. He added that if his speech lacks a backup, it will be a cause for alarm in the crypto market.

Furthermore, he uncovered his portfolio, stating that he has little interest in risky assets. One of such risky assets is digital currencies.

Trigger For Cryptocurrency Rally

Drawing from Peccatiello’s speech, the increase in the prices of these digital tokens commenced after Powell’s statement. He added that Powell stated a relationship between inflation and neutral interest rates.

Powell also cited that the Fed’s operations will base more on data. This results from the recent hikes of about 75 basis points.

According to Peccatiello, the Federal Reserve would be a dreadful zone if it repeats its interest rate hike over time.

Powell is more careful now that the Fed feels they reached neutral rates: why?

Because every time the Fed hiked above that (restrictive policy) it ended up breaking something.

Every single time. pic.twitter.com/OkQ51xzipB

— Alf (@MacroAlf) July 28, 2022

Then, Powell made another statement, which happens to be a good cause for concern. He cited that there is another alarming increase that could be the trigger for the next meeting of the FOMC, scheduled for September.

Related Reading | Why Cardano (ADA) May Breakout In A Bull Run To $1

His final statement pointed to the fate of digital currencies and their yields. He revealed that there is a need for the Fed to carry out an aggressive tightening. Peccatiello stated that this action is necessary to prevent the decline of actual yields.

Moreover, with reduced yields comes low performance in the crypto market and other risk-driven assets.

Expert Alerts Investors To Be Careful In The Cryptocurrency Rally, Why's That?
Cryptocurrency market rebounds firmly | Source: Crypto Total Market Cap on TradingView.com
Featured image from Pexels, chart from TradingView.com
Tags: cryptocurrencyETHUSDTfederal reserveFOMC
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Denis

Denis

Denis is a passionate writer and editor and he's been writing in finance industry for almost 6 years.

Related Posts

Ripple XRP

XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

7 hours ago
Cardano (ADA)

Cardano Adds 50,000 New Wallets As ADA Market Cap Surges

11 hours ago
ethereum

Ethereum Hovers Above $1,600, What’s The Next Move?

14 hours ago
Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

15 hours ago
Polkadot

Polkadot Hints At Price Recovery – Can DOT Go Past 15% Weekly Ceiling?

15 hours ago
cardano

Cardano (ADA) Continues To Shine With 15% Gains In the Last Week

16 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Solana (SOL) and LEO Token (LEO) Witness Steep Decline; Flasko (FLSK) Looking To Help Investors Recover Loss

January 26, 2023

BudBlockz (BLUNT) Emerges as a Haven as Bitcoin Cash (BCH) and Stellar (XLM) Struggle to Grow

January 26, 2023

The Top Picks for a Bear Market: Hedera (HBAR), Toncoin (TON), and Orbeon Protocol (ORBN)

January 26, 2023

STEPN (GMT) gains 21% as GameFi, and NFT Industries Suddenly Bounce Back, Decentraland (MANA) named one of the top creditors of bankrupted Genesis Global, Snowfall Protocol (SNW) Seems like the best buy in 2023

January 26, 2023

Polkadot (DOT) On the Rise Following New Releases This Week, Tron (TRX) Down 3% , Snowfall Protocol Is Giving Investors an Edge Over the Bear Market In 2023 With Over 500% Price Gain

January 26, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.