Crypto market bottom is ‘almost in’ — Market Talks chats with Korean Jew Crypto

On this week’s episode of Market callswe welcome Jake, also known as “Korean Jew Crypto” on Twitter and the founder of “The Trading Dojo”, a platform that provides quality training and education to help traders identify profitable trades on their own.

The wide-ranging interview covered KJ’s views on how to trade the Federal Open Markets Committee and Consumer Price Index events, along with his views on how Federal Reserve policy affects crypto prices.

According to KJ:

“In terms of what Powell said and the way the news cycle has been, I was adamant a few weeks ago that something has changed. I was quite bearish and expected a support break for BTC, ETH and everything else. We got the downside on Friday ​​that swept everyone out of the tight range but it was immediately bought back… Bullard from the Fed had some bullish things to say and we took back the support and kept doing good volume as well as in stocks.I told my friends mine and the dojo, something is different. It should have broken, but there were buyers there. The market just feels very different.”

When asked whether Dogecoin’s (DOGE) recent 100%+ pump is a one-off or a sign of a broader trend change, KJ said:

“I feel there is something bigger behind it, personally. When you compare structure, even thoroughly price rejected at a certain level, it’s actually starting to look pretty bullish to me. I would not be surprised to see a reflation trade where the price goes up to $0.55, falls and then rises again.”

KJ suggested that Elon’s new leadership of Twitter “people are speculating that there’s going to be some sort of DOGE integration involved. I think it’s a fair speculation actually.”

Is the market bottoming out?

With regard to a broader reversal in sentiment, investors’ appetite for risk and the crypto market carving out a bottom, KJ explained that DOGE’s recent bullish price action is:

“Shows that there is an element of greed that is still there. In the past, the DOGE move would have sold, somewhat immediately, not the numbers that it did. We may have gotten a 20% move that was sold by the end of the day. Litecoin also shows greed in the market and risk behavior and this risk, in my opinion, has not been taken by the “normies” yet. These are more powerful players who are willing to do that.”

To hear more alpha from KJ, tune in to Market Talks here, and come back every Thursday at 12:00 PM ET to hear feature interviews with some of the most influential and inspiring people from the crypto and blockchain industry.

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