19
Sep
2022

BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

The United States equities markets and the crypto markets are likely to remain volatile in the near term because traders remain nervous about the size of the next Federal Reserve rate hike on Sept. 20 and 21. While the majority favors a 75 basis point rate hike, according to the CME FedWatch Tool, some analysts expect the Fed to hike rates by 100 basis points, the first such instance since the early 1980s.

Many expect Bitcoin (BTC) to continue its slide and drop below the June low in the future. Although anything is possible in the markets, many times, the markets do not oblige the majority. If the Fed does not surprise the markets, traders who may be cautious and sitting on the sidelines could jump right back in, resulting in a brief relief recovery.

Daily cryptocurrency market performance. Source: Coin360

Bear markets offer an opportunity for investors to accumulate in the long term. It is futile to catch the bottom, hence, traders may be on the lookout to start accumulating during periods of extreme pessimism. A strong stomach is needed to tide over the volatility but the ones who do that are likely to benefit when the next bull run begins.

Could Bitcoin and altcoins stage a turnaround or is a deeper decline possible? Let’s study the charts of the top-10 cryptocurrencies to find out.