Market Talks discussed Bitcoin’s downside, DOGE’s price action and signs to follow to know when it’s time to get into crypto.
On this week’s episode of Market Talks, Cointelegraph Jake or “KJ” — also known as “Korean Jew Crypto” on Twitter — is the founder of The Trading Dojo, a platform which offers coaching and education to help traders make profitable trades of their own to promote themselves.
The main discussion focuses on KJ’s take on the trading of the Federal Open Markets Committee and Consumer Price Index results, as well as his views on how Federal Reserve regulations affect crypto prices.
According to KJ:
“From what Powell said and the way the news cycle was, a few weeks ago things definitely changed. I was pretty pessimistic and expected a break in support for BTC, ETH and everything else. We got the dip on Friday that swept everyone out of the tight range but it was sold off immediately [.” ..] The Fed’s Bullard had some bullish comments and we regained support and got nice volume and stocks. ‘Things are different.’ It was about to fall, but there were buyers, the market feels different.”
When asked if Dogecoin’s
DOGE
Ticker downwards
$0.12
The recent percentage-high pump is a one-off or a sign of a larger trend reversal, KJ said:
“Apart from this self, I think it is something bigger. If you compare the structure, even if the price is completely rejected at a certain level, it actually looks quite optimistic to me. I wouldn’t be surprised to see a reflation market where the price rises to about $0.55, falls and then rises again.”
On Tesla CEO Elon Musk’s new ownership of Twitter: “People are speculating what kind of DOGE connection it’s going to be. I think it’s actually a reasonable speculation,” KJ said.
Has the market bottomed out?
Commenting on the broader sentiment response, investor risk appetite and downside out of the crypto market, KJ explained the DOGE’s recent bullish price action:
“Showing that there is an element of greed again. In the past, the DOGE movement would sell almost immediately, not the numbers available. We may have received a 20% move that was sold at the end of the day. Litecoin is also showing greed and risk taking in the market and that risk is not yet caught up to “norms” in my opinion. These are the most capable players and they are ready.”
To hear more alpha from KJ, tune into Market Talks on YouTube and come back every Thursday at 12:00 p.m. ET to listen to featured interviews with some of the most influential and inspirational people in the crypto and blockchain industries.
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