Elusive Memecoins and the Fed Effect: An Overview of Memes
Date: 2023-07-30 Author: Karina Ziganova Categories: IN WORLD
The end of the five-day working week is a great time to remember what events and news occupied the minds of members of the crypto community this week. We offer to plunge into the past with the help of memes
This week, a meeting of the Federal Open Market Committee (FOMC) was held, during which the regulator raised the base rate to a maximum in two years. Many members of the crypto community believe that the Fed's decision, in the future, may provoke a drop in prices in the digital asset market. In honor of such forecasts, the network was flooded with memes with the head of the US financial regulator, Jerome Powell
Not without jokes that not every investor will be able to withstand market turbulence. One of the netizens jokingly visualized the reaction of a newcomer, an experienced investor and the media to market movements.
Some of the market participants do not exclude the possibility of a further decline in bitcoin. The fall may open up prospects for investors to buy cryptocurrency profitably.
"It's me, trying to buy bitcoins at the bottom."
However, there are those who are confident in the potential for further growth of bitcoin. In their opinion, cryptocurrency is not afraid of either sellers or negative rumors about digital assets.
At the center of the discussions was also the statement of the largest asset manager BlackRock that the ideal investment portfolio should consist of 84.9% BTC.
Also this week, market participants discussed the decline in investor interest in the once most popular meme coin Pepe. Many have shifted their attention to Elon Musk's favorite cryptocurrency, Dogecoin. Market participants noted how difficult it is today to look for potentially profitable memecoins.
