TGIF and happy Friday. I’m happy to say that at the time of this recording, the crypto market is starting to heat up for a lot of different reasons and multiple variables. Today, the altcoin season index tapped into so-called altcoin season territory. This is the first time we’ve seen that since all the way back in December of last year, December 2023.
On September 17th, there’s a widespread expectation of this big rate cut announcement as the Federal Reserve schedules its next policy meeting. According to Poly Market, there’s an 87% chance, according to the wisdom of the crowd, that we’ll see at least a 25 basis points rate cut. And as you can see, there’s even an 11% expectation of a 50 basis points decrease.
With this context in the background, we’re looking at $1,367 specifically in terms of dry powder at our disposal to add to our portfolio. As things are starting to heat up, the macrolevel variables are coming together. As usual, of course, we’re following the smart money because the fact of the matter is there are major institutions and whales that are targeting some of these altcoins as well that are actively investing in them.
TGIF, Happy Friday, and all the best of luck if you choose to invest. If that’s the case, I wish you well, but I am not a financial or investment adviser. Just remember that, and by extension, this article is not official financial or investment advice.
CARDANO ADA
Let’s get right into it with pick number one here. The first altcoin that we’re considering in the context of September 17th and that date is Cardano and its ADA token. It’s staying in the spotlight as a project for a lot of different reasons with quite a bit as of late that’s new with Cardano. There is one glaring negative…
