Crypto

Crypto Market Bottom ‘Almost Hit’ – Market Talks Chats with Korean Trader Jew Crypto

In this week’s episode of Market Discussionswe welcome Jake, also known as “Korean Jew Crypto” on Twitter and founder of “The Trading Dojo”, a platform that provides quality coaching and education to help traders identify for themselves profitable transactions.

The wide-ranging interview covered KJ’s perspective on how to trade the events of the Federal Open Markets Committee and the Consumer Price Index, as well as his views on the impact of politics. from the Federal Reserve on crypto prices.

According to KJ:

“In terms of what Powell said and how the news cycle has been, a few weeks ago I was adamant that something had changed. I was quite bearish and expected a break from support for BTC, ETH and everything else. We had the drop on Friday that swept everyone out of the narrow range, but it was immediately bought out…Fed’s Bullard had some bullish things to say and we reclaimed support and held with good volume, as well as actions. I told my friends and the dojo, something is different. It was supposed to break down, but there were buyers there. The market just feels very different.

When asked if the recent 100%+ pump in Dogecoin (DOGE) was a one-time event or a sign of a larger trend change, KJ said:

“I feel there’s something bigger behind it, personally. When you compare the structure, even the deep price rejected at some level, it actually starts to look quite bullish to me. I wouldn’t be surprised to see a reflation trade where the price goes up to around $0.55, goes down and then goes up again.

KJ suggested that Elon’s new management on Twitter “people are speculating that there will be some sort of DOGE integration involved. I think that’s reasonable speculation actually.

Has the market bottom been reached?

Regarding a broader shift in sentiment, investors’ appetite for risk and the crypto market bottoming out, KJ explained that DOGE’s recent bullish price action is:

“To show that there’s an element of greed that’s still there. In the past the DOGE move would have sold out, kinda immediately, not the numbers it did. We could have a 20% move that has been sold at the end of the day Litecoin also shows greed in the market and risk taking behavior and this risk in my opinion is not yet taken by the “norms”. powerful who are willing to do so.

To hear more alpha from KJ, tune in to Market discussions hereand return every Thursday at 12:00 p.m. ET to hear interviews with some of the most influential and inspiring people in the crypto and blockchain industry.

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