Sam discusses the recent FED minutes and how they are affecting the markets, as well as news from the world of crypto and stocks. He believes that while Bitcoin is down over the last 24 hours, it is still looking quite bullish over the past few weeks and that the FED minutes did not give a lot of indication into their current thinking. Sam also mentions liquidity issues with BUSD and the closure of retail stores by Spaces, as well as rumors of layoffs in crypto, particularly with Dapper Labs and Ripple’s ongoing SEC case. He concludes by sharing his thoughts on what to expect from crypto and stocks in the coming month.
FED Minutes and Their Impact on Markets
Recently, Sam discussed the FED minutes which shed light on the restrictive monetary policy required until the FED is confident the inflation would fall to two percent. They also agreed that the process would likely take some time. This indicates that the FED is trying to even out emotions between bad months and good months, which in turn helped calm the market. Most participants wanted a 25 basis point hike but a few wanted 50 basis points. This gave the market some indication that the FED was a little more dovish than expected at the last meeting, leaving investors wondering what the next FED speech would bring.
Crypto and Stock Market Predictions
Sam also covered a wide range of topics, including the state of Bitcoin and crypto which decreased by 2.6% over the last 24 hours. Despite falling beneath the 24,000 mark, many experienced investors believe it’s okay for the RSI to cool off and the whole crypto market to cool off as well. Investors should look at the bullish nature of the crypto market over the last few weeks to remain optimistic.
Another topic Sam touched on was the New York and Miami stores being closed by various crypto businesses due to absent liquidity and a lack of foot traffic. Dapper Labs, which controls the NBA Top Shot NFT collection, is also facing strict regulations and may have to pay more money which could trigger more layoffs in the future.
Investors should keep an eye out for PPI and PCE, which are expected to be released soon. According to Sam, things look positive, but investors should remain watchful to track any significant changes in the coming months.