I have been following cryptocurrency in the month or so since I have posted, but have been the most busy professionally I have ben in a long time. With that said, the US. Federal Reserve is widely believed to be cutting interest rates for the first time in nearly half a decade.
Here is one article on opinions on what will happen when the fed cuts interest rates:https://www.thestreet.com/crypto/markets/what-the-feds-first-interest-rate-cut-in-four-years-could-mean-for-crypto
Now, with what I have learned about cryptocurrency in this uncertain time is that there is likely to be a brief price increase in all of most cryptocurrency coins and tokens, followed by a sell off by those considered whales, with a price decrease to follow.
However, in the long run, this is what many call the beginning of "the next great bull run." At least that is what i believe. I am happy to be buying low still, slowly but surely. This works for me.
On the effects on the broader economy, many think the fed is cutting rates in order to help sway the US presidential election to the VP. It is convenient timing to say the least. As mail in voting starts all of a sudden prices go down, gas is under $3, and the grocery bill is lowering.
I believe if I stay the course, it will pay off in the cryptocurrency space.