Welcome back,
In next 3 days the FOMC meeting will be held and the most awaited decision of rate cuts might be given by poll. It is still a doubt whether that will happen or not, but going by the speculations, 99% or we can say more than 99% chances are there that rate cuts are going to happen by at least 25 BPS, but only after 3 days we are going to know what exactly happens because we never know what the FOMC meeting will come up with because we have been getting these scenarios before as well and rate cuts did not take place at that time.
The CPI data was not in our favor, but the US jobless claim came out much higher than expected, which was a good thing for the market, not for the country, obviously. So, let's see what the FOMC meeting will give us after 2-3 days. I hope rate cuts are going to take place because it will eventually boost up the entire financial market, be it stock or crypto. We are going to see massive moves in both of them, especially in cryptocurrencies, where people are still holding their asset for last few years in the hope that they are going to witness Alt season, they might finally witness something that they are waiting for.
Now here is the thing, if rate cuts are announced in FOMC meeting, the market can pump for next 24 hours to 48 hours after that and then we might see a liquidation in the market because I don't think that the market makers are just going to let retailers make money after this big decision. So even if the market sees this news coming in about the rate cuts, I am still going to say that future traders especially should not get involved in long or short openings.
I know a lot of people might get excited and open long positions but you should never do that because the market sentiments will be in the favor of market going up so a liquidation, a heavy liquidation might happen. Be aware because the market once liquidate you, you are not going to recover your money in future. So hold on to your spot and stay away from future while the big decision comes in next few days.
My long term holdings are untouched. I have not touched a single token from my long term holdings, be it any token, because I trust all of them. I don't care what will happen to them in next two to three months. The short term holdings, which I bought recently, about which I shared here on Hive Blockchain as well, the test portfolio, where we added around six tokens, I have booked some profit in most of those tokens, and I am holding USDT with me, because I think the market will give opportunity, and I am going to invest in a new token or maybe one of those six tokens again when opportunity is seen.
Even if I don't get the opportunity, I am going to keep those USDTs until I find another token with a good opportunity. I am surely going to update about that here. By the way, I have added a new token recently named AIXBT, and I already made 13-14% on that and booked profit, now I am holding the rest. I have sold only 50% of the tokens I bought. So that's all for this blog. I hope everyone will get rewarded because the market has tested our patience quite well. So maybe the time to reward the patient holder is already here.
Thank you and happy trading everyone.
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