The post This is Why Crypto Markets May not Recover until February 2023! appeared first on Coinpedia Fintech News
Ever since the impact of the 2021 bull run has faded, crypto markets have deep-dived into a steep descending trend. Meanwhile, multiple factors, let it be within the crypto space or not, have adversely impacted the markets. However, Q4 was expected to be pretty bullish, but October appears to close on a bearish note.
Some analysts still believe the bullish trend could be revived in the next couple of months. Bitcoin & other altcoins were speculated to undergo a notable upswing to begin the yearly trade of 2023 on a bullish note.
However, the markets are expected to remain heavily consolidated, while Bitcoin prices could tank down hard in the coming days. As per a popular analyst, Micheal van de Poppe, the FED may continue to hike rates until February 2023 which may keep the crypto markets consolidated.
Poppe believes that the FED may hike another 75 bps in November & December and 25 bps in February 2023. The FED Chain Jerome Powell had earlier said that the agency may take more stringent measures to combat the rising inflation.
The inflation rates, from the past 6 months have been at a record high above 8%, highest in June with 9.1%. Meanwhile, Bitcoin also remained heavily consolidated at the same time. Therefore, if the rates keep on elevating, the BTC price could eventually find new lows in the near future.