Bitcoin awaits Fed and Matic Whale turns $80k invested in September 2020 into $5.2 million in 2.5 years

Just like stock markets Bitcoin is in waiting mode to see what the Federal Reserve will decide later this week with regards to interest rates. Federal Reserve chairman Jay Powell can either let markets rip of selloff with every word at this point and even the excellent performance of Bitcoin in January could be a thing of the past if he announces that the Fed believes, for example, that global inflation hasn’t peaked yet.

At the beginning of their three day meeting, the Federal Reserve didn’t announce anything major, which cause crypto and global stock markets to register a small selloff.

Alasdair MacLeod, head of research at Goldmoney, furthermore pointed to geopolitical tensions surrounding the Russia-Ukraine conflict as a key future risk asset downside trigger.

No one is thinking through the effect on markets of the resumption of the Ukraine conflict.

He argued.

Matic Whale

An anonymous trader who invested 2.5 years ago in the Polygon blockchain digital coin, known as Matic, decided to cash out earlier this week.

A $MATIC early holder sold 4,553,023 $MATIC for 5,200,081 $DAI at an average price of $1.14 today.

The $MATIC holder received 4M $MATIC from #Binance when the price is $0.02.https://t.co/t1yM9Qergc pic.twitter.com/glPeg3KMja

— Lookonchain (@lookonchain) January 28, 2023

The person bought about 4 million units of Matic for an average value of 2 cents in September 2020. In January 2023, he sold this purchase again and chose to convert it into stablecoins, worth a good $5.2 million dollars, i.e. a 50 times larger payout than his initial deposit

Matic had a phenomenal month of January 2023, with a return of more than 50%. The coin therefore enters the top 10 largest digital coins on coinmarketcap for the first time this year.