Crypto Market Insight Oct 2022 | Ewpple

 

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Ewpple - Crypto Market Insight Oct 2022

Current Situation
Federal Reserve increases interest rates 75 basis points, maintaining its aggressive stance. Fed hawkish actions will continue even if a recession results. Eventually, the Fed will set interest rates higher than inflation. As the Fed Funds Rate rises, inflation will eventually fall.
“We need a slowdown, … the economy to absorb our actions and slow in a relatively orderly way.” Atlanta Fed President Raphael Bostic said.

Economic Data
US Aug Inflation Rate YoY 8.3% vs Fed target long term average 2%.
US Sep Unemployment Rate 3.5%.
Fed Funds Rate 3.25% up +0.75%.

Market Reaction
Strong US dollar due to Fed action will sap the life out of the market and transfer inflation to countries with weaker currencies. There will be a period of weakness in the market. When inflation is under control, it will revive.

Investor Action
Don't worry about short-term price fluctuations. Build up your crypto position during market weakness. Invest in an index fund like Ewpple DeFi Crypto Index Fund (EWD) using the Dollar Cost Averaging strategy.

Crypto News
According to Fed's Powell, DeFi must be regulated before it expands to more retail customers. Moreover, a U.S. central bank digital currency (CBDC) would be non-anonymous and verify users' identities if launched.

Ewpple DeFi Crypto Index Fund (EWD) lost -13%.
Benchmark index lost -26% in the same period.
Benchmark index = S&P Cryptocurrency MegaCap Index (SPCMC) + Decentralized Finance Index (DEFX)

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