URGENT! Prepare For What Is Coming - Raoul Pal Bitcoin Prediction

URGENT! Prepare For What Is Coming - Raoul Pal Bitcoin Prediction

This week, one of the top stories was the Federal Reserve’s rate hike of 75 basis points and Chairman Jerome Powell’s remarks. Both traditional and crypto markets reacted negatively after Powell’s commentary, but Bitcoin has somewhat recovered, though still down… as it currently trades at $19,169.88, down 3% in the past 7 days, while Ethereum trades for $1,326.29, after it briefly flirting with the $1200 level. The rate hike increase was much anticipated by most pundits and analysts, but it was Powell’s comments afterward that caused major reactions from analysts, academia, and of course, Twitter. Powell eliminated the idea of a soft landing and warned Americans to brace for hardship in the future, as the Fed tries to break historic inflation rates. University of Pennsylvania Wharton School of Business professor Jeremy Siegel commented;

“I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.”

When speaking with CNBC regarding the Fed’s comments, Bill Zox, portfolio manager at Brandywine Global, commented

“The Fed is not anywhere close to a pause or a pivot. They are laser-focused on breaking inflation. A key question is what else might they break.“

As part of his Daily Briefing, Raoul Pal gave his thoughts on the Fed’s move and what it means to the market.

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