The US Federal Reserve is poised to decrease interest rates, potentially initiating the upcoming surge in the cryptocurrency market.
August’s CPI report mostly aligned with market forecasts, except for the monthly core CPI, which rose by 0.3% rather than the anticipated 0.2%.
The most recent inflation figures do not alter market expectations of a 25 bps rate reduction at the next FOMC on September 18th, which is anticipated to infuse fresh capital into both US stock and crypto markets.
Predictably, savvy investors are beginning to accumulate assets like Bitcoin, Solana, and emerging low-cap cryptocurrencies like Memebet Token and Crypto All-Stars.
Recent headlines regarding the CPI showed a lower rate of 2.5%, compared to the previous month’s 3.0%, indicating a significant decline in inflation levels and potentially paving the way for the Federal Reserve to implement quantitative easing.
The CME FedWatch currently indicates an 87% probability of a 25 bps rate cut and a 13% chance of a 50 bps cut.
Should a 50 basis point cut occur, it could surprise the market and trigger a substantial rally. Even if a 50 bps cut doesn’t happen in September, it remains a strong possibility in the upcoming FOMC meetings in November and December, with Citi analysts suggesting a total rate cut of 125 bps by the end of the year.
This scenario is notably bullish for Bitcoin, with experts predicting a potential increase to $90,000 and some even foreseeing the cryptocurrency reaching triple-digit values.
The next crypto bull market is projected to be led by alternative coins, with some experts forecasting a 100x altcoin season in 2024.
Solana is highlighted as one of the top-performing altcoins anticipated in the next market surge, with significant investments being made in assets like SOL.
Other altcoins like Rollbit Coin and Memebet Token are also gaining traction, attracting investors with the promise of substantial returns and unique features like meme coin staking models.
Crypto All-Stars, another burgeoning cryptocurrency, has attracted significant investment in its ICO and offers a novel meme coin staking model, MemeVault, catering to investors seeking lucrative staking opportunities.
In conclusion, the cryptocurrency market is poised for potential growth following the upcoming FOMC meeting, with various altcoins showing promise for significant returns in the next bull run.