FOMO? Fed rate hike triggers Bitcoin, Ethereum Fear of Missing Out

It’s been an interesting day in the crypto-verse. Following an unexpected Fed rate hike, Bitcoin and Ethereum prices have plummeted, leaving FOMO (Fear Of Missing Out) fever levels to be higher than ever before.

Bitcoin Down Below $28,000

FOMO in Bitcoin-land is at an all time high. The news of a Fed rate hike, which suggests that the US Dollar might be gaining more strength, sent BTC prices plummeting to below $28,000.

Ethereum Falls Under $1,800

Ethereum has also not been spared from the recent bearishness in the crypto markets, and prices have fallen below the $1,800 mark. As the second largest cryptocurrency, it’s no surprise that Ethereum users are feeling the pinch of the recent developments.

What Does This Mean For Crypto?

The recent Fed rate hike was unexpected and has come as a shock to the crypto markets, but it doesn’t necessarily mean that it’s the beginning of the end. Much like any market, there are always highs and lows and as with any downturn, it’s important to remember that these things can always turn around.

What Can Crypto HODLers Do?

Here are a few tips for crypto holders trying to ride the current wave:

  • Stay Aware: Keep an eye on the news and understand what’s happening in the crypto markets.
  • Don’t Panic: Don’t make rash decisions, as panic selling often leads to more losses.
  • Have a Plan: Have an exit strategy and set yourself a goal of when to sell.
  • Educate Yourself: Remember the basics of trading and understand market trends.
  • Be Patient: The markets always turn around eventually, so keep an eye out for opportunities to buy back in!

So while the recent Fed rate hike could have dealt a blow to the crypto world, as with any market, it’s important to stay aware, don’t panic, have a plan and be patient. Here’s hoping that Coinbase and other exchanges see some green again soon!