The crypto globe is fast approaching a major economic event which is expected to turn tables for economic markets. That includes equity and crypto markets, and the assets incorporated in the directories. The FOMC meeting and the concerned implications have been a growing concern for the fraternity.
Amidst the concerns of the FED’s amendments, crypto traders are on a quest for an ideal strategy to tackle the turmoil of the implications of the meet. In the interim, an industry proponent sheds light on the ideal strategy amidst the ongoing market trends.
The Key To A Safe Run In The Economic Turmoil?
The FED’s FOMC meeting has escorted FUD in the business, such that fear and greed index is down to extreme fear at the score of 23. Meanwhile traders have been pondering over their plan of action in the turbulent market, which seems to be taking a dip to lower levels. FOMC’s quantitative tightening, interest rate hikes, and balance sheet reduction have been ebbing the market.
Traders are now considering to swap their altcoins for Bitcoin, as altcoins have been falling-off the barriers by a greater extent. The proponent from the industry cites that swapping alts to BTC would not be an ideal option. The implications of FOMC’s meeting although for the short-term will first take on BTC in the crypto industry followed by other alts.
On the other hand assets like cryptos have been moving towards the higher time frame and could bounce back stronger. Since altcoins recover faster than Bitcoin, and at a higher return rate.
Alts remain a viable option to hold on, however portfolio management remains crucial. That said, the strategy is to avoid making emotional decisions.
Summing up, the aforementioned strategy remains an ideal one to counter the ongoing economic turbulence.
That said, altcoins like Avalanche, Ethereum, Cardano, and Solana have been making appreciable gains, and have been under active consideration of traders and investors in the business