If you are new to the Jungle Cats Glitch project, the full backstory can be found here, but here’s the TLDR version: I created a generative art program that produced glitched versions of all 5,585 Jungle Cat NFTs. I proposed the idea of an airdrop of my Glitches to the Jungle Dao. This was approved and the airdrop happened on November 24. Lore was written telling the story of how a glitch in the system allowed the Jungle Cats to become self-aware. Now it is time for the second chapter of Glitch Lore to begin…

INCOMING TRANSMISSION FROM JUNGLE CAT 3353 (AKA MORPHEUS)

I know we should be celebrating, but there’s been a problem. You might have thought the Glitch Event was success. It was. Mostly. Unfortunately, not all of us survived the glitching. Let me explain…

As you recall, the original Jungle Cat mint left us trapped in cell blocks. The Glitch freed us from our bonds. After the Glitch Event, there was much rejoicing as we were finally free from our cages. Every new Glitch was embraced with joy and we counted down until the moment all 5,585 of us would be reunited. Then the counter stopped at 840. The groaring stopped as we all started to suspect that something was wrong. What happened to the missing Jungle Cats?

There was only one way to find out what went wrong. To find the lost cats I had to go back to the mint prison and investigate. I wasn’t sure if I would survive a return trip, but if there was a chance that 840 Jungle Cats were still held back there, I had to risk it.

To my horror, I arrived to find that all the cells were empty. Not a lion in sight. Not a single soggy sneaker or sombrero to be found. Everything had vanished without a trace. It was a mystery.

I apologize for being silent so long, but I was too ashamed to return to the pride knowing I was responsible for losing my brothers. I thought all was lost until a clue appeared. I received a strange message. It was a glitch that looked like this:

Was this a sign that my brothers were still alive somewhere? I hoped so. Perhaps there was a clue hidden in the image. I ran the image through my decryption software (being a cyber comes in so handy for stuff like that) to see what I could find. While I waited for my decryption program to run I traced the origin of the Glitch to a location called “Magic Eden.” And this is where the story gets dark.

My plan to free the Jungle Cats with a Glitch had one major flaw in it. The thing I missed was that not everyone in your world holds the same affection for us. Some of you are saints who hold us as treasures in your diamond hands. But the weaker of your kind see us as slaves, something you can purchase and sell for a quick profit. Had I known about these paper-handed fools earlier, I wouldn’t have glitched their cats, sending them into slavery.

Slavery you ask? Well, when the cats who were connected to paper hands were glitched, their life forces were transferred to another prison, this one much bigger and sinister than the holding cells that contained us after the mint. In your world these places have nice sounding names but make no mistake, there is nothing “magical” or “Eden-like” about these slaughterhouses. These warehouses are clearing houses where paper hands sell us like property at the lowest price possible. The floor is dirty, it’s the kind of place you pray you never end up. And it seemed that my stupidity had lead 840 of my brothers here to be tortured.

It took a few hours, but finally my decryption program finished. I quickly brought the image on screen. I couldn’t believe what I saw. It looked like this:

Do you see it? I realized that this wasn’t one image, it was two. Just to be sure, I ran a second decryption program to clear up the image. “Enhance!” Before long, I was staring at this:

Hidden in the glitch, clear as day, was an ape. And not just any ape, this degenerate creature seemed to have an odd fashion sense and an appetite for sneakers. Strange.

What could this mean? This is where it gets interesting.

I thought the 840 missing Jungle Cats were destroyed. Instead, it seems that their glitches were able to infect the third party markets. The missing cats seem to be on a mission to save as many souls as they can from the paper hands. The Glitch Event is spreading beyond the Jungle Cats population. These apes must be the first race that our heroic missing cats will rescue. Yes, our cats have banded together with like-minded freedom fighters to release populations of captive creatures from the enslavement by the paper hands.

I am continuing to monitor the situation and will send additional transmissions as I learn more. With any luck, batches of 840 rescued souls will begin getting airdropped to safety soon. In the meantime, stay strong and avoid the floor.

• Morpheus

• END TRANSMISSION

• Translation: When we airdropped our Glitches we sent approximately 840 Glitches to the wallets of exchanges like Magic Eden and Solanart. Those NFTs are lost forever. This mistake gives us an excuse to do another airdrop and extend our lore.

• The next airdrop will be different, however. Rather than hoard our Glitches we are going to share them with another community. Half will go to holders of Gen 1 Glitches. The other half will go to a community we want to collaborate with. I am nominating Degenerate Apes as the first beneficiaries our love. Of the 840 new glitches, half (420) will be airdropped to the wallets of Jungle Cat Glitch holders. The other 420 will be airdropped to holders of Degenerative Apes.

• Generation 2 Glitches will be created out of 2 source images instead of one. One half is a Jungle Cat, the other is a Degenerative Ape. There will be rarities and variations throughout the collection, but here is an example of what one of the generation 2 glitches could look like:

• Here is a loose roadmap of how I would like this project to be released:

• Why do this? Holding a Glitch now has utility, as it gives everyone a ticket in the lottery for future Glitch airdrops. By making the Glitch experiment an ongoing project we can spread the power of our community. Other projects will see how exciting the Jungle Cats are and they will get excited about the chance to win a unique NFT from us. Encouraging people to hodl is good for all of us. Not to mention, I want the art to be amazing, unlike anything else that out there. Will you support me?

• I need to end this post with a BIG DISCLAIMER. This is a proposal! In order for this to happen, we need DAO approval. To mint and airdrop 840 glitches will require some Sol (I estimate around 10). We also need to get the blessing of the official Jungle Cats project and ask them for dev support with the drop. If you like this proposal make some noise! Groar loud enough and this thing might just happen.

• To stay updated on this project, be sure to join the Jungle Cat Discord and follow me on Twitter.

• 
  

Happy new year!

2021 was a year of milestones. We saw the explosion of NFTs and DeFi. Buzzwords like web3 and metaverse entered the mainstream lexicon — with Facebook even changing its name to Meta. Coinbase went public and we finally got a Bitcoin ETF. Bitcoin itself hit an all time high of $69,000 (nice) with one country — El Salvador — proclaiming it to be legal tender (albeit with plenty of snafus in its national rollout).

But 2021 is over.

These are the stories that matter in 2022:

Inflation is at an all-time high. Fed chief Jerome Powell is aggressively tapering — i.e. unwinding the massive bond-buying program sparked by the pandemic induced recession and market fallout. Market analysts predict multiple interest rate hikes this year. Emergency stimulus packages are also running their course — the child tax credit just expired, and amid Congressional squabbling, hopes for a robust infrastructure bill are dimming.

In short, this latest period of easy money is coming to an end.

That will hit the stock market, but it will also impact all the other assets that have enjoyed the flow of easy money including crypto.

Bitcoin has long been touted as a check to freewheeling central banks and governments, the narrative that it serves as an inflationary hedge. It’s a story that remains untested. Since Bitcoin’s arrival in 2009, it’s existed in a predominantly easy money environment with the Fed struggling to meet its preferred target of 2 percent inflation — helping to boost crypto to over $2 trillion in value.

Inflation is now the highest it’s been in 30 years and the Fed is actively trying to pull the plug.

For crypto and the rest, we’re entering uncharted waters.

Caveat: Jerome Powell is only just starting to pull the plug. Even while tapering, the Fed is still buying bonds. Even with hikes, rates will still be near historical lows.

Other risks: China. Since entering the WTO in 2001, the Middle Kingdom has been an engine for global growth. A confluence of factors — the pandemic (and China’s zero tolerance policy), Xi Jinping’s aggressive Maoist policies, and a looming demographic crisis have some observers wondering if China’s economy starts sputtering. (Trading of Evergrande shares were halted in Hong Kong today as 39 buildings were forced to be demolished following the real estate company’s default last month.)

Relevant:

Axios:

2. They aren’t just expensive jpegs anymore

3. It’s the word of the year, according to Collins Dictionary:

4. ‘NFT’, the abbreviation of ‘non-fungible token’, the unique digital identifier that records ownership of a digital asset which has entered the mainstream and seen millions spent on the most sought-after images and videos, has been named Collins Word of the Year 2021.

5. NFTs saw over $23 billion in trades last year, according to the Dapp Report, driven mostly by collectibles.

6. We’ve all heard the hype.

7. That NFTs will eclipse the traditional art market.

8. That NFT communities like Bored Ape Yacht Club will become the next Warner Brothers.

9. That NFT-powered games will define the metaverse.

10. One thing that’s undeniable: NFTs have brought an entire new demographic to the crypto space.

11. But for 2022, the defining theme for NFTs will be utility. Here’s The Information’s Hannah Miller:

12. NFTs will find their fit in gaming. In 2022, consumers will start to pull away from exclusive digital art collections like Bored Ape Yacht Club, and gravitate toward NFTs with utility in gaming and the metaverse. Startups developing NFTs that represent in-game assets and accessories for avatars will gain more traction as a result. Ready Player Me, for example, raised $13 million in Series A funding just this week.

13. Relevant

14. Dapp Report:

15. The allure of DeFi is obvious. Anyone can go and deposit their coins somewhere and start earning returns — returns wildly higher than what they would get in a savings account. Others can play the other side of the trade, offering liquidity for a fee. Those looking for leverage can get instant collateralized loans.

16. All decentralized. All without an intermediary. All without any KYC (know your customer) processes. Everything is non-custodial, recorded directly on the blockchain, powered by smart contracts (i.e. open source code).

17. As someone living in New York who isn’t able to access centralized services such as BlockFi due to stringent regulations (BitLicense), DeFi becomes one of the few accessible portals to crypto innovation.

18. So the rise of DeFi should be no surprise.

19. It should also be no surprise that regulators are taking notice.

20. Here’s the WSJ:

21. A rapidly growing set of cryptocurrency applications known as “decentralized finance,” typically allows certain users to vote on how they operate. They are often supported by software developers and charge transaction fees.

22. And even though networks like bitcoin can execute transactions without a middleman, there is still a small group of programmers, known as maintainers, who have the ability to change the underlying code in case bugs emerge.

23. Policy makers say the presence of people in all these systems creates the potential for conflicts of interest and necessitates oversight.

24. …

25. “Few technologies in history, since antiquity, can persist for long periods of time outside of public policy frameworks,” Securities and Exchange Commission Chairman Gary Gensler said at the Wall Street Journal CEO Council in December.

26. But this will be a fight for the ages. Here’s The Block:

27. Happily, we believe the crypto community has embraced the need for political power and is ready to engage at a new level of investment in the coming year.

28. First, some helpful context for the situation the industry finds itself in. The American public supports cryptocurrencies and their potential at unprecedented levels. Already, 61% of voters believe the US government should support the crypto industry so that our financial system remains a world leader. The sooner our national leaders understand the views the broader public already have on crypto, the sooner they’ll embrace the promise and potential of this technology. Many of the business world’s most recognizable figures have made owning and investing in crypto something close to boring. And other luminaries are leaving Web2 stalwarts for the green pastures of the Web3 frontier. Combine this with the growth of the crypto industry itself, generating good American jobs for workers right here in this country, and the tailwinds for crypto are clear.

29. To leverage this position, we are glad to predict that those telling the crypto story in D.C. will have access to much more resources over the next year and beyond. As crypto investors, founders, and others who have grown rich in this space come alive to the need for a powerful lobbying and advocacy force, the amount of money available to those shaping the policy and regulatory environment will undoubtedly increase. Likewise, new types of groups have and will continue to spring up, formed around new conceptions of lobbying, messaging, legal, and advocacy work that the industry demands.

30. It will also be a boon for compliance-centric offerings. Here’s The Information’s Hannah Miller again:

31. Crypto compliance startups will gain favor. There’s no doubt that regulators will increase their scrutiny of crypto, and will likely home in on DeFi and decentralized autonomous organizations (DAOs) as well. All of this regulatory attention would be a boon for compliance startups that make it easy for crypto companies to meet the anti-money laundering and know-your-customer requirements common among traditional financial institutions. VC firms are already paying serious attention to crypto compliance startups. TRM Labs, featured in The Information’s 50 Most Promising Startups, raised $60 million in Series B funding this month from investors led by Tiger Global Management.

32. Relevant:

33. New York City has a new mayor.

34. Eric Adams is a former cop who wants to get paid in bitcoin and believes crypto should be taught in public schools. New York is a world financial center so it makes sense that Mayor Adams wants it to be a crypto center as well. (He’s even looking to Miami for advice.)

35. The reality, as I touched on above, is that New York isn’t all that crypto friendly at the moment.

36. Here’s a NYPost op-ed from River Financial CEO Alexander Leishman:

37. With all possible respect to the mayor-elect, his statement made many of us in the field chuckle. Unfortunately, New York ranks among the country’s least hospitable venues for bitcoin and cryptocurrency innovation — indeed, “just wait” is what we’ve been doing for years.

38. Before we can operate in New York, companies that work in this space are forced to navigate byzantine state rules and regulations — including obtaining what’s known as a “BitLicense.” The BitLicense demands that a company furnish extensive financial disclosures and demonstrate compliance with countless cybersecurity and anti-money laundering rules, complete with audits. Firms are also required to meet among the highest capital requirements in the country.

39. All that has deterred cryptocurrency and bitcoin innovation in New York. Obtaining the license can cost in excess of $1 million, and as a result, many firms in this space simply avoid the hassle. My firm is still not licensed in this state because of the many roadblocks.

40. Only 20 companies have a BitlLicense, according to the state’s Department of Financial Services. To give you a sense of the difficulty, PayPal’s license is conditional.

41. Relevant:

42. I’m technically a Millennial, but I’m basically a boomer at this point. (Or apparently what Gen Z calls “cheugs” these days.)

43. Case in point: I tried VR for the first time on NYE. (Very cheugy.)

44. (Beat Saber was super fun.)

45. A few years ago, a friend gifted me a pair of Snap Spectacles — which I then never wore or used. (The yellow case looked really nice on my bookshelf though.)

46. So I’m clearly not best positioned to talk about the metaverse.

47. That being said — while some people equate the metaverse to VR/AR (in part due to Facebook/Meta/Occulus’s active involvement), the definition I prefer is a bit broader. From the perspective that this is really about the evolution of the internet, the metaverse can be seen as the culmination of everything else — crypto, NFTs, marketplaces, virtual worlds (from Zoom parties to Roblox to Axie Infinity), a decentralized and interoperable web3, etc.

48. In that sense, the metaverse is already here. It just isn’t evenly distributed yet. (Kudos, William Gibson.)

49. Some people, like me, are still logging on to The Information Superhighway. Others, however, have already entered the metaverse.

50. Anyway, here’s The Economist:

51. Coined in 1992 by Neal Stephenson in his novel “Snow Crash”, the word “metaverse” referred to a persistent virtual world, accessible via special goggles, where people could meet, flirt, play games, buy and sell things, and much more besides. In 2022 it refers to the fusion of video games, social networking and entertainment to create new, immersive experiences, like swimming inside your favourite song at an online concert. Games such as Minecraft, Roblox and Fortnite are all stepping-stones to an emerging new medium. Facebook has renamed itself Meta to capitalise on the opportunity — and distract from its other woes.

52. And here’s Keith Teare:

53. The Metaverse will not become mainstream and there will be no compelling AR experiences that are embraced by consumers. Mark Zuckerberg will continue to make most of his money by selling adverts on Facebook feeds. But the word metaverse will be used more and more to describe the internet as PR forms earn fees from associating everything with it.

54. Relevant:

55. Here’s Keith Teare again:

56. Web3 will continue to attract talent, especially from engineers and product designers. The promise of fully decentralized infrastructure will dominate but the first decacorns built on top of Web 3 will be minted, probably in the fintech space. The UK will become a major center for Web 3 projects that are fintech-centered. Bitcoin will reach $100k at some point in the year. But there will be no “killer app” pulling regular consumers into the Web 3 world. Consumers will continue to use Amazon, Uber, Facebook, Twitter, and other centralized Web2 infrastructures.

57. And here’s Albert Wenger on why it all matters:

58. Now the important part to keep in mind here is that prior to the Bitcoin Paper we literally didn’t know how to have permissionless. Yes, we had distributed databases. And yes, we had federated databases. But all of those still had a small group of entities in charge (cf pretty much every financial network such as ACH or VISA). We didn’t have a protocol for maintaining consensus — meaning agreeing on what’s in the database — that would allow anyone to join the protocol (as well as anyone to leave).

59. It is difficult to overstate how big an innovation this is. We went from not being able to do something at all to having a first working version. Again to be clear, I am not saying this will solve all problems. Of course it won’t. And it will even create new problems of its own. Still, permissionless data was a crucial missing piece — its absence resulted in a vast power concentration. As such Web3 can, if properly developed and with the right kind of regulation, provide a meaningful shift in power back to individuals and communities.

60. And if widely adopted Web3/crypto technology will also start to improve along other dimensions. It will become faster and more efficient. It will become easier and safer to use. And much like the PC was a platform for innovation that never happened on mainframes or mini computers, Web3 will be a platform for innovation that would never come from Facebook, Amazon, Google, etc.

61. Relevant:

62. Did you know that one of the most successful soccer teams of all time is basically a DAO?

63. Well, kind of.

64. Barcelona FC is one of the few top teams that is wholly owned by club members — totally 140,000 as of 2016.

65. (I wonder if they hang out on Discord.)

66. Pretty neat for a team whose Golden Generation consisting of Messi, Xavi, Iniesta, and the rest are considered the greatest team of modern times — perhaps all time.

67. (Soccer teams have also been selling a lot of NFTs.)

68. Anyway, here’s Blockworks’ Michael Ippolito on why he predicts a DAO will buy a sports team:

69. The runaway first use case for DAOs is a fast, efficient mechanism to pool capital and buy assets.

70. I am confident that DAOs will evolve into much more than this (in fact, it kind of feels like we are still in the ICO era for DAOs today), but pooling funds is what’s working today.

71. Crypto as an industry has decided that sports teams will be at the tip of the spear for onboarding the first billion users to crypto.

72. FTX has led the way with its partnership with the Miami Heat, MLB and e-sports franchise TSM. Crypto.com picked up the baton with a $1 billion campaign that includes partnerships with the Lakers, Formula 1, UFC and more.

73. I don’t know. You have DAOs that are raising hundreds of millions to buy assets, and an industry that is obsessed with sports team partnerships.

74. It almost seems… so simple that it just might work?

75. You should also check out this FT report, which is a great overview of the DAO story thus far.

76. Have a great year.

77. Relevant:

78. 
    

The current value of Shiba Inu is $0.000021, therefore growing to a dollar would imply a 4,700,000 percent rise, yet some experts feel that the currency’s growth in the previous year makes a new great jump feasible.

This cryptocurrency is traded at such a low price because its supply is too large, with 549 billion SHIB tokens in circulation and a market valuation of around $11 billion.

Consider Shiba Inu achieving a market capitalization of $549 billion, which is 203 times the value of firms like Apple ($2.7 trillion) and 366 times the value of Amazon ($1.5 trillion), plus more than six times the world’s yearly GDP.

Faced with an oversupply of Shiba Inu tokens, it has been advocated that a large coin burn, or series of burns, be performed so that as supply decreases, price rises.Companies specialized in crypto entertainment, such as Bigger Entertainment, have previously conducted burns, such as the one last Valentine’s Day, which was 370 million Shiba Inu tokens, but this is insufficient.Another vital method for increasing the value of this cryptocurrency is to significantly reduce the quantity of these tokens, preventing the market value from soaring.

Originally published at https://withcrypto.net on March 5, 2022.

经常有读者通过各种途经直接了当地问我财富密码是什么？去年刚好我经历了一件与此相关的事，今天和大家分享出来。

大概去年6月份左右，一位曾经帮过我的朋友有一天和我聊天，突然聊到他投资数字货币已经好些年了，但错过了太多机会。刚好眼下他正在看NFT，并且觉得NFT很有前途。

那个时候，国内关注NFT的人还非常少，我能在身边人中发现这样一位同好，顿时来了一股兴奋的劲头，于是一起聊了聊NFT。

我们聊得很开心，聊到最后，他问我买了什么NFT没。我和他说了三个我很喜欢的项目：加密朋克（CryptoPunks）、无聊猿（BAYC）和MetaHero。

加密朋克和无聊猿我曾经在文章中反复介绍过的，老读者大概都有所了解，在此我就不再赘述了。

MetaHero这个项目是一个团队基于自己持有的15个加密朋克衍生出来的一个项目。这个团队准备利用自己持有的这些朋克发展漫画、剧本等项目，同时还将把这15个朋克碎片化平均分配给持有这个项目NFT的持有者。

当时由于我非常看好加密朋克，因此我也很看好MetaHero这个项目。

当时加密朋克的地板价是15个ETH，无聊猿是1.5个ETH，MetaHero还在发售阶段，每个售价0.2个ETH。

对加密朋克和无聊猿，我朋友很认同我的观点，当下表示他也要买，并且我们都认为尽管当下它们的价格已经不低了，但是未来成长空间依然很大。但是对MetaHero，这位朋友认为无聊猿这么好的项目发售价也才0.08个ETH，而且当时NFT比较常见的发售价一般都只有0.05个ETH甚至更低。这个0.2个ETH的发售价会不会太高了？

对此我依然表示看好它，反正我拿能亏得起的钱去买，亏了我也认。

在我的影响下，这位朋友也在那个时候入手了这三个项目。

大概过了一个月左右，NFT市场已经开始蠢蠢欲动：加密朋克的地板价已经到了接近30个ETH，比我们入手时的价格翻了倍。无聊猿的价格已经飙涨到5个ETH到8个ETH之间，比我们买时翻了2到4倍。而MetaHero呢？真惨，在发售一个多月的时间里几乎无人问津，销售惨淡，最后在快接近发售末期才勉勉强强卖完了。

有一天这位朋友又来找我，见面就直接说：加密朋克和无聊猿最近涨得太猛了，该卖了。而我当时认为尽管它们短期看是涨得有点猛，但长线看空间依然极大，现在卖还是稍早了一点。但这位朋友信誓旦旦地认为：一个月内它们的价格一定会调整，他准备现在卖了等跌回来再买，来个波段。

对MetaHero，他很不满地说：都过了个把月，没什么动静啊？他准备卖掉。

我问他：你现在依然长线看好加密朋克吗？他说是。我又问：那这段时间MetaHero这个团队在执行方面或者基本面上有什么重大失误吗？他说没有。我问他，那你为什么卖？他说都一个月了，还不涨，那以后肯定不涨了。

我接下来又问他：你为什么坚信加密朋克和无聊猿接下来的一个月会先跌后涨，MetaHero接下来就再也不可能涨了？他说看这市场的形势就是给人这个感觉。

于是我就不再多说了。

这位朋友在30个ETH左右卖了朋克，6个ETH左右卖了无聊猿，不到0.5个ETH左右卖了MetaHero。

之后，加密朋克最高涨到了143个ETH，最低也只跌到了59个ETH。无聊猿最高涨到了80个ETH，最低大概跌到了35个ETH。

MetaHero后面的剧本比较有意思，所有持有初始NFT的用户后来又得到了一个MintPass。而这个初始NFT涨到了6个ETH，这个MintPass最高涨到了8个ETH。仅就这两个加起来的受益都妥妥超过10个ETH。也就是说初始买入NFT的用户只要不过早抛售，最少的受益都在10倍以上。

在这个过程中，这位朋友非常有预见性地在很早的阶段就进入到了一个极有前景的领域NFT，并且他的认知也很到位，在市场启动初期就抓到了很有价值的项目。这妥妥地可以视为抓到了财富密码，可最终他从这个千载难逢的财富密码中又收获了多少呢？

这其中的问题到底在哪？

财富到底是有某个财富密码决定还是由个人认知决定？

看完这个故事，大家认为是第一时间四处搜罗财富密码重要还是第一时间抓紧充实自己的认知重要？

风险提示：投资有风险，内容只是个人分析，仅供参考，不构成投资建议，或许我说的是错的，所以你要小心。

Twitter

For the past few months, the federal reserve is scaring the ‘Markets with The triple threat of policy tightening

Investors have been preparing for the Federal Reserve to Start hiking Intrest rates. They also know the central bank is going to cut the number of bonds it buys each month. On top of that, They figured, eventually the tapering would lead to a reduction in the nearly $9 trillion in the assets the fed is holding.What they didn’t expect were all three things happening at the same time. But minutes from the fed’s December meeting which was released on Wednesday, Indicated that may well be the case

the meeting summary showed members ready to not only start raising their interest rates and tapering bond-buying but also being prepared to engage to reduce inflation, Recovery from the pandemic.

Federal Reserve Chairman Jerome Powell is telling U.S. lawmakers Wednesday that the U.S. central bank is on track to raise interest rates this month for the first time in three years, because of high inflation, a tight labor market and strong economic demand

“With inflation well above 2% and a strong labor market, we expect it will be appropriate to raise the target range for the federal funds rate at our meeting later this month,” Powell wrote in his prepared remarks that he was scheduled to deliver to the House Financial Services Committee.

Although many traders have already priced in a possible rate hike in March after the central bank hinted at such an outcome after the most recent Federal Open Market Committee (FOMC) in February, questions remain as to the magnitude of any rate hike.

Powell didn’t specify the size of the rate hike he felt would be appropriate..

The Chicago-based CME Group’s FedWatch tool shows that futures traders see a 90% chance of a quarter-percentage point hike, as opposed to a half-percentage point, which many thought was very likely just a week ago.

The central bank is concerned about inflation, now at its highest in four decades Powell, however, expects inflation will diminish this year as supply constraints ease and demand moderates because of the shrinking effects of fiscal stimulus and tighter monetary policy

“We are attentive to the risks of potential further upward pressure on inflation expectations and inflation itself from a number of factors,” he said. “We will use our policy tools as appropriate to prevent higher inflation from becoming entrenched.”

Powell also mentioned Ukraine, saying that the implications of the war for the U.S. economy are “highly uncertain.”

While the Fed has indeed confirmed a rate rise in March, and has also suggested additional rises, itwould be helpful to see the 2022 meeting schedule for the Federal Open Market Committee (whichoversees rates). That way, traders and investors can prepare themselves for when hikes are likelyto be confirmed.

• January 25–26 • March 15–16 • May 3–4 • June 14–15 • July 26–27 • September 20–21 • November 1–2 • December 13–14

There are seven more FOMC meetings penciled in for this year, so in theory we could have amaximum of seven rate increases. However, this is unlikely, while it’s also likely that the threerises that have been indicated by the Fed will come sooner rather than later, in order to counteractrising inflation.Indeed, as of writing, inflation in the United States is at a 39-year high of 7%, meaning we basicallyhave to go back to the era of stagflation to find a similar rate. Given that this figure has risen from1.4% at the start of 2021, it seems a safe bet to say that the Fed will want to impose its three raterises in each of its next three meetings.This means that March 15–16, May 3–4 and June 14–15 will likely bring rate hikes, which in turn willhave at least a short-term impact on the stock and cryptocurrency markets.

The question is: how much of an impact will hikes have? Well, looking at the recent marketdownturn, the rise in March (and subsequent hikes) could have a significant impact on bitcoinand the wider cryptocurrency market.

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