In a majorly anticipated move, the Federal Reserve on September 21, 2022, raised interest rates by 75 basis points (0.75 percentage points). This marked the third consecutive time this year that central bankers decided to implement a hike of that magnitude – and that has stiffened the headwinds in the bitcoin market.
However, several projects like Tamadoge have come up to avert the turmoil surrounding the general crypto market. The hike in interest rates signaled how serious inflationary pressures have gotten in the United States. The Bitcoin and Ethereum markets seem not to like it.
Crypto traders have to be data-reliant, just like the central bank. The federal funds rate rose to a range of 3% to 3.25%, which is the highest since late 2007. Notably, the interest rate had remained near zero for over two years.
Today, traders are betting that the federal funds rate will rise past $4.25% before the central bankers decide to stop the campaign. Once the terminal rate is reached, some economists believe that it will remain at that level until inflation drops considerably to reach the Fed’s target rate of 2%. However, the Federal Reserve’s top executives are estimating rate increases through 2023.
Bitcoin Traders Depend On Data
More volatility is expected to affect Bitcoin and Ether in the months ahead. The biggest crypto faces decoupling from traditional markets and decreasing forward guidance from the United States Federal Reserve.
Bitcoin has already lost 56% from around $47,500 on January 1 to its current level around $19,000. Massive volatility would reflect the Fed’s new data-driven approach that alters the Fed’s current practice for foreshadowing the pace of interest rate hikes before Federal Open Market Committee (FOMC) meetings. These meetings set monetary policy.
There might be more volatility on the downside ahead as macroeconomic uncertainty weighs extensively on the crypto investors. For those investors seeking a guarantee of making profits in the crypto space, they can invest in Tamadoge, Bitanium, or LBCoin.
In a July 2022 press conference, Fed Chairman Jerome Powell said that the central bank would not make any decisions until the last minute. Investors might become more speculative in the absence of any defined signals from Fed governors.
Kaiko researchers wrote in a note:
“Volatility is unlikely to go away in the coming months as the Fed is preparing to step up the process of shrinking its massive $9 trillion balance sheet or the so-called quantitative tightening in September. Together with rising interest rates and a data-driven approach to monetary policy, this will likely put additional pressure on risk assets.”
Central bankers’ forward guidance has mostly offered clues about future monetary policy changes, enabling the financial markets to prepare, so that they will not get shocked and make drastic moves.
The Fed is ready to hurt the stock market and other assets, including cryptos, for the sake of taming inflation. Powell reiterated this in his speech at the Fed’s annual Economic Symposium in Jackson Hole, Wyoming. His remarks were praised by some monetary policy observers who hoped for a clear commitment to addressing surging prices that may cripple the entire economy.
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, told Bloomberg:
“I was actually happy to see how Chair Powell’s Jackson Hole speech was received. People now understand the seriousness of our commitment to getting inflation back down to 2%.”
The Federal Reserve’s new level of opacity means that bitcoin traders will need to react to what the Fed decides to do. This reaction includes studying the same indicators as the Fed bankers. The chief investment officer at Arca, Jeff Dorman, stated:
“We’re data dependent just like the Fed at the moment.”
It means that in the coming weeks and months, traders will need to assess corporate earnings reports and employment coupled with other economic data. Dorman added:
“Traders are trying to figure out what exactly is the path going forward. As a result, we won’t trade well on every inflation print that comes out that’s below expectations.”
What Does It Mean For Crypto Markets
Crypto markets have become volatile each time the Federal Reserve decided to hike rates. Bitcoin plunged below $19,000 but then rebounded and later sunk to $18,900. Notably, equities saw wild swings during Jerome Powell’s press conferences. Alexandre Lores, Quantum Economics’ director of blockchain market research, stated:
“Markets are crazy in the short-term. Over a longer period I see this as a neutral or bearish move, and expect BTC and ETH to respond in a neutral or bearish fashion.”
One research analyst at crypto data company Kaiko, Riyad Carey, stated:
“This is yet another reminder that crypto moves at the whims of the Fed. We saw this just last week when there was a sharper price reaction to the CPI release than to the [Ethereum upgrade] Merge. I don’t foresee crypto, especially BTC and ETH, bucking the Fed’s influence any time soon.”
Another crypto derivatives trading specialist, Joshua Lim, said that a 75 basis point hike would be well received since the probability of a bigger move was priced in by traders too. He commented:
“With Fed terminal rates in the mid-4% range, one thing we continue to hear is markets’ interest in real-world yields on-chain. This is a growing area, with on-chain credit to electronic market makers being the bulk of it.”
Tamadoge Is A Great Solution For The Fed Turmoil
Tamadoge is coming out the gates as the biggest hyped meme coin of all time. It is designed to push the boundaries of the play-to-earn (P2E) space to create a game that people will be competing with each other to use. With all these potential use cases and utilities, Tamadoge is expected to dominate the crypto space.
Analysts believe that it is the best option for anyone investing in the crypto space wishing to avoid the Fed turmoil. It is the gateway token of the Tamaverse. On this platform, users can mint, breed, and battle their Tamadoge pet in the metaverse.
The Newest Doge On The Block
Tamadoge is coming out the gate barking, becoming one of the biggest hyped meme coins of all time and pushing the boundaries of the Play-to-Earn space, in order to provide a game that people will be climbing over each other to use.
Tamadoge (TAMA) is the gateway token of the Tamaverse – where you’ll be able to mint, breed and battle your own Tamadoge pet in the metaverse.
Tamadoge will give everyone the ability to mint the doges they want to, and will allow users to breed, train and battle their Tamadoge NFTs to top the leaderboard every single month. Over time the Play-to-Earn opportunities will be expanding to include augmented reality experiences, allowing your NFT to play with its friends in the Tamaverse.
Tamadoge isn’t just the future of the Doge ecosystem, it’s the future of Play-to-Earn.
Tamadoge gives everyone the ability to mint all the doges they want. It will also let users breed, train, and battle Tamadoge NFTs to top the leaderboard each month. Over time the P2E opportunities will expand to feature AR experiences, enabling a user’s NFT to pay with its friends within the metaverse.
Tamadoge (TAM) is not just the future of the Doge network, it is the future of play-to-earn. With all these potentials, Tamadoge seems to be the best solution to dodge the Fed turmoil affecting Bitcoin and Ethereum.
How To Buy Tamadoge
To begin, make sure you have a MetaMask wallet installed on your browser, or use one of the wallets supported by Wallet Connect (we recommend Trust Wallet).
Purchasing on a desktop browser will give you a smoother purchasing experience. For this we recommend Metamask.
If you are purchasing on mobile, we recommend using Trust Wallet and connecting through the in-built browser (just copy https://buy.tamadoge.io into the Trust Wallet Browser).
Once you have your preferred wallet provider ready, click “Connect Wallet” and select the appropriate option. For mobile wallet apps, you will need to select “Wallet Connect”.
You will then have three options Buy ETH With Card. This option will allow you to purchase ETH that will be sent to your wallet by our partner, Transak.
You will then be able to use this ETH to purchase TAMA. Click “Buy Eth With Card” to begin and follow the on-screen steps. We recommend purchasing a minimum of $15 worth of ETH to cover the minimum TAMA purchase. Buy TAMA With ETH.
Once you have sufficient ETH in your wallet (if you do not have ETH or USDT, please select option 1 to purchase ETH first), you can now swap your ETH for TAMA. Type in the amount of TAMA you wish to purchase (1,000 minimum) and then click “Convert Eth”.
Your wallet provider will ask you to confirm the transaction and will show you the cost of gas. Buy TAMA with USDT. Please ensure you have at least $15 of USDT in your wallet before commencing the transaction.
Type in the amount of TAMA you wish to purchase (1,000 minimum). Click “Convert USDT”. You will then be asked to approve the purchase TWICE. The first approval is for the USDT contract and the second is for the transaction amount. Please ensure you go through both approval steps to complete the transaction.
Once the presale has concluded, you will be able to claim your TAMA tokens. We will release details closer to the time, however, you will need to visit the main site https://tamadoge.io and click on the gold “Claim” button.
Use the contract information below to add the TAMA token to your wallet.
Token symbol: TAMA