Time to Sharpen Your Pencils and Watch the Cryptos That Could Swing with The Fed’s Latest Decision
It’s summer time and that means the Federal Reserve is finally getting around to announcing their interest hike decision. Investors have been eagerly awaiting this news, but there are a few cryptos that need to be kept an extra close eye on right now.
This is a big decision that could have an enormous impact on the markets, so we wanted to make sure you had all of the necessary details about which cryptos you should watch before the announcement. Here are the top five cryptos to keep an eye on:
1. Bitcoin (BTC)
- The King of Crypto: Bitcoin is the undisputed king of the crypto world. It’s currently trading at around $7,500, but could go much higher if the interest rate decision is good news.
- Look for the Upswing: Bitcoin has been relatively volatile during the last few weeks, but it has remained fairly stable. If the Fed makes the right call, watch out for the upswing.
2. Ethereum (ETH)
- Fluctuating Prices: Ethereum has seen some big fluctuations in price recently, but it’s still in the $230 range. It could rise sharply if the announcement is in line with what investors are expecting.
- High Potential: Ethereum has the potential to be one of the most profitable investments of the year. But, it’s also likely to be one of the most volatile. Keep an eye on it for sure!
3. Ripple (XRP)
- Greatest Gainer: Ripple is the third-largest cryptocurrency by market cap and is one of the greatest gainers of the year. If the Fed news is good, Ripple could be one of the biggest winners.
- Yearly Price Record: Currently trading at around $0.45, Ripple could set a new yearly record depending on the Fed’s decision. Imagine the profits if the news is spot on.
4. Litecoin (LTC)
- Stability is King: Litecoin has been particularly stable in the last few weeks. If the news is good, watch for the uptrend. Litecoin could be a great way to add some stability to your portfolio.
- A Contrarian Coin? Surprisingly, Litecoin could gain if the Fed’s decision is bad. Yes, really! Look for Litecoin to go up a few points if wary investors look for a safe haven.
5. Dash (DASH)
- Number Five: Dash is currently in the number five spot by market cap, and it could be a great way to diversify amid the buzz surrounding the Fed’s decision.
- Fortunes Could Change: Dash has been relatively quiet in the last few weeks. But, all of that could change depending on the decision. Keep a close eye if you’re looking for a potential windfall.
Whatever the news from the Federal Reserve, make sure you’re keeping an eye on these five cryptos. But, don’t forget to keep an extra sharp eye out for Ethereum and Ripple. They could be the ones to make all of us crypto fans the happiest.
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