What do you guys think? Is a rate cut happening this month? I saw on Polymarket that around 95% of bets expect it, with over 200 million total volume on Fed-related markets. If it happens, will crypto go bullish or recover?
Will There Be a Rate Cut This Month?
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Dude, the rate war has definitely pushed Bitcoin down. If cuts come this month, we need to prep for that. Could mean a bearish end to the month for our portfolios, honestly.
Market's buzzing about a 25bps cut for October, like 95% sure. I think we'll see cuts similar to September. The Fed's under pressure to ease things up. Feels like we're headed toward some serious money printing soon.
hash_orbitMember
Posts: 68 · Reputation: 40
#4May 9, 2019, 01:10 PM
There's a solid chance rates will drop, but I wouldn't be shocked if Trump pressures Powell to hike instead. That could wreck a lot of bets on Polymarket. Risky to assume cuts are a sure thing.
Best to brace for more down time in major assets. If cuts are expected, values will likely dip. Bitcoin might be less affected since it's already felt the hits, but still... we can’t just ignore the risks.
Rate cuts should be bullish, right? I mean, cheaper borrowing means more investments in riskier assets like crypto. Stocks have been doing well, but crypto's lagging behind. Cuts would definitely help us out.
chris.viperMember
Posts: 267 · Reputation: 213
#7May 9, 2019, 10:39 PM
Yeah, but will the market really turn bullish? What if all this is already factored in? After that dump we just had, anything could change. If Trump forces Fed's hand, who knows?
Totally get that. The macro data's on everyone’s mind, especially if Powell confirms a cut. We're in a weird spot right now, bouncing around the 106K mark for BTC.
If I remember right, the last cut pushed crypto to new highs, including BTC. We really need this cut this month to spark another rally. There’s been so much bleeding this week.
Hoping for a cut but recent cuts make it unlikely. We’d need pretty low inflation to justify it, and that’s not happening now. I doubt we’ll see another cut so soon.
Cuts don’t guarantee a bullish market though. It all comes down to the Fed's announcement. I feel like recovery is near after such drops, but we won't know till the date gets here.