Bitcoin (BTC) 
$69,625 The price is stalling near $68,500 and losses accelerated for altcoins. However, big events will occur in the coming hours. Both the US elections and the Fed interest rate decision will directly affect medium-term performance. So what are the experts’ predictions? What do Warren Buffet’s last quarter data tell us?
Warren Buffett and Markets
The famous billionaire of years is known for his Berkshire Hathaway company. Berkshire Hathaway, a name closely watched by stock investors, stopped share buybacks this year. He sold over $100 billion worth of Apple shares. The company reached its largest cash reserve to date at $325.
It holds a record $288 billion in U.S. Treasury bonds, more than the Fed holds. So what drives Buffett to hold $93 billion in Treasury bills from the Fed? Warren Buffett is positioning as if a recession is coming. Warren Buffett literally isn’t buying back his own shares because the price is too high.
The S&P 500 is up 40% since October 2023, marking one of the biggest 12-month gains in history. Since Buffet is worried about the risk of recession for now, he is earning interest from his huge cash reserves. If the recession comes as expected, this will not be good for cryptocurrencies.
Cryptocurrencies Expert Comments
In his last market assessment, Benjamin Cowen mentioned that his goal of market domination, which he had been waiting for for 3 years, had been achieved. Although he could not predict the exact peak, he had mentioned many times that the 60 threshold would be crossed. Today he wrote:
“I think #BTC dominance will peak for this cycle in the next 2 months, but predicting the exact percentage is a fool’s errand.
While ALT/BTC pairs are still at their lowest levels, it is possible for the dominance to rise above 60%. There are ways for ALT/BTC to fall and BTC.D to not rise too much (but for that to happen ETH/BTC will need to bounce).
The truth is that those who have been bullish on market dominance over the last 3 years are in a strong position and want to see evidence of a trend change first. That’s why it’s important to identify the trend before it happens, not get hung up on only noticing what’s happening when dominance finally reaches 60%. I will continue to share my thoughts on this important metric over the next 2 months, but my current basic view is that ALT/BTC will fall a little further. “I think ETH/BTC is pretty close to the bottom, but it’s still impossible to know the exact number.”
The analyst with the pseudonym Z3usCrypto predicts that we are in the final consolidation process before ATH.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
