The market’s still on a wild ride, folks. Just when you think it’s safe to dive back into the waters, another wave comes crashing.
As we speak, the financial world’s got its eyes glued on the upcoming moves from the big players—the Federal Reserve and the Bank of Japan.
With critical policy updates on the horizon, everyone’s holding their breath, waiting to see which way the wind will blow.
It’s a messy scene right now. QCP Capital threw in their two cents, making it clear that “It’s too early to say the market will recover.”
They added that we’re in for more chop until we get some solid news from the Federal Reserve’s Jackson Hole conference on August 22nd and from BoJ Deputy Governor Uchida this Wednesday.
And don’t hold your breath for any emergency rate cuts—the analysts are saying that’s a no-go.
America steps up, but will it hold?
Last night was a spectacle, with the U.S. jumping in to steady the rocking boat. The crypto markets felt the love especially, with a huge dose of spot buying on Coinbase.
By the time the markets closed, QCP told us Bitcoin had clawed its way back to $56,000, and Ethereum wasn’t far behind, sitting pretty at $2,500.
But it wasn’t just crypto that saw a glimpse of hope. Over in Japan, the stock market made a jaw-dropping recovery, soaring 9% today after yesterday’s 12% plunge.
Meanwhile, U.S. futures are teasing a rebound too, all thanks to some upbeat service sector data from July. Yet, with the VIX still lurking above 30 after a peak of over 65, the rollercoaster ain’t over.
So, what’s a trader to do in these choppy waters? QCP Capital suggests it might be time to scoop up some BTC and ETH.
They’ve laid out a plan for buying Bitcoin at a 9.8% discount and Ethereum at a 10.5% discount, eyeing weekly purchases if prices stay low.
The idea here is to grab these cryptos at $49,800 and $2,200 respectively, as long as they don’t breach their upper barriers anytime soon.
Yesterday’s market madness washed away a lot of leverage, creating what might be a prime opportunity for the brave, says QCP. It’s not for the faint of heart, but then again, fortune favors the bold—or so they say.
