The largest cryptocurrency finished the first month of the year up 39.6%, according to statistics fromThe impressive performance emboldened bulls, many of whom had kept the faith despite mass misgivings from more conservative market participants.“I mean, anything can happen, right. But the absolute default view must be the bear market ended in Dec.
The picture for the month ahead continues to be clouded by macroeconomic triggers. Notably, Feb. 1 will see the United States Federal Reserve confirm its next interest rate hike, with the European Central Bank doing the same on Feb. 2. While the former hiking 25 basis points is all but “unanimously” priced in, crypto research and analysis firm Arcane Research says, the future remains less certain.
“Due to a relatively strong market recovery, Chair Powell may take the advantage to maintain hawkish restrictive undertones, emphasizing the importance of incoming economic data,” it argued in areleased on Jan. 31, adding that consensus “expects a 25bps hike on Wednesday and another 25bps hike to 475bps on March 22.”
“Currently, zero adjustments during the May 3 and June 14 FOMC meetings are priced as the most likely outcome, but a further hike of 25bps remains within the realm of possibility,” it noted..Should the door be open for surprises, volatility may increase as a result, with rate hike decisions already a classic catalyst.“This could suggest that the trend of massive FOMC-induced volatility in BTC is receding,” it concluded.Another concern for crypto performance comes in the form of U.S.
While Bitcoin had a strong start in 2022, it is impossible to predict what the future holds. What are your thoughts for this year?
Anyone has info about that defi money making b_ot.
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