First Mover Asia: Bitcoin Not Ready to Soar as Investors Await Fed Chair Speech, More Earnings

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Bitcoin dipped below $23K during weekend trading before rallying slightly. ALSO: With crypto prices surging, venture capital investment could increase in the blockchain space, but will VC firms learn from their past mistakes? TheSamReynolds writes

By Sam Reynolds

After a mediocre start to earnings season, investors are thought to be looking ahead to Federal Reserve Chairman Jerome Powell’s speech, scheduled for Tuesday afternoon, before making any big moves. "As a result, the earnings decline for the fourth quarter is larger today compared to the end of last week and compared to the end of the quarter," FactSet's senior earnings analyst John Butters."If the index reports an actual decline in earnings for Q4 2022, it will mark the first year-over-year decline in earnings reported by the index since Q3 2020.”

“I am a little more optimistic that it won't be quite as severe a recession as in a great recession or major, major recession,” he said, pointing to the resilience of consumers. “The fact that the Fed's actions are having such a slow effect doesn't mean cumulatively they won't eventually have a major effect. We're probably still a quarter or two away from seeing what the Fed's actions have really actually done to the economy.

 

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thesamreynolds Crypto asset prices traded flat over the weekend, while $BTC & $ETH were in the red. Traders are probably waiting for more signals in Fed Powell's upcoming speech. Be prepared to make your best trading moves with LeverFi. Head over to now!

thesamreynolds I belive everything will later work out good for $XEP XEP🧿 ElectraProtocol

thesamreynolds Bitcoin News. Maximum whale already sold Btc in top Price 24k+ but they are acting like That they have still hold btc.. be careful BTC will Big dump.. soon

thesamreynolds The usual and very predictable slow grind down manipulation is getting as dull as mud these days.

thesamreynolds It's very critical.May a pull out for a while.

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