So crypto market is going insane because of global central banks cutting rates!

[erni]

I found kraken to put their trading on hold a few times the last hour and was wondering what is going on!

Then I read this

https://www.coindesk.com/markets/2024/05/16/bitcoin-has-best-day-in-2-months-as-markets-anticipate-a-summer-of-easing/

and then I watched how bitcoin and the rest of the family has increased in worth.

Is it now we see BTC going 90K and ETH 8K ?

 

[wellington]

Nope - central banks cut rates after something breaks - at the same period there is high demand for liquidating assets - hence gold usually shits itself around there.

What you are seeing is the recovery from the April liquidity airpocket

 

[incognitbro]

Regarding the title I think its just a narrative, people are just bullish in general.

I don't feel super optimistic about hanging around the old ATH this long, and ETHBTC has been doing terribly. Not betting on 8K eth anytime soon but if we break up to the upside 90K could happen.

 

[Rotor]

Regarding the title I think its just a narrative, people are just bullish in general.

I don't feel super optimistic about hanging around the old ATH this long, and ETHBTC has been doing terribly. Not betting on 8K eth anytime soon but if we break up to the upside 90K could happen.

Yes reading BTC and ETH charts is becoming harder and harder. For some other alts it's a no brainer that there's a lot of upside ahead. And since so far everything in crypto still moves in locksteps, I guess BTC and ETH will still go up (or sideways in the worst case scenario).

Don't worry Jay Jay Powell and Christine Lagarde have your back.

 

[incognitbro]

Yes reading BTC and ETH charts is becoming harder and harder. For some other alts it's a no brainer that there's a lot of upside ahead. And since so far everything in crypto still moves in locksteps, I guess BTC and ETH will still go up (or sideways in the worst case scenario).

Don't worry Jay Jay Powell and Christine Lagarde have your back.

Indeed, felt like the moves in 2021 made alot more sense so have largely quit actively trading.

 

[JohnLocke]

Looks like it is all back again this morning, nothing to worry about.

 

[maxmoney]

It's rising slowly