It's a beautiful day, a beautiful morning to share what is really happening in crypto world today... I've been watching the market for somedays now, looking at how market is going up and down with unstable situation and sometimes this makes many traders loose their funds if they didn't do their technical analysis very well before entering the market, so I made my research and find out what is actually causing this... Here is what I think it's really happening and affection the Beerish in crypto market, especially Bitcoin
Let’s talk real talk on what has really been heating crypto market lately:
We discover that Over 8 millions new jobs show in the United state which is better than before and this simply means that the economy is doing pretty well right now, So this makes the federal reserve not to cut the interest rate at the moment... The secret that makes crypto to be on bullish is that lower rate usually boost crypto in the market, so no cuts= less excitement for the investors/traders
We also discover that there is a new virus going on right now that worries people. The virus is called Human metapneumovirus (HMPV). As we speak few cases has been reported. And why is this matter? The fear of the unknown virus makes investors nervous and when things feel shaky, investor will pull money out of risky asset like crypto
We also discover that, there is rising oil price. Russia and OPEC are cutting oil supplies, making oil to be more expensive, now how does this matters and affect crypto? The truth is higher oil prices leads to more inflation. If inflation stay high, the fed is likely to cut rates, and that wouldn't be great for crypto
I know many of us are panic now, stay calm please, even though things feel rough right now, many believe the market is just over reacting. Don't worry crypto fundamental are still strong, and in the next bitcoin halving on the horizon, a big recovery it's on is way... So just keep calm and watch the market on how it goes and I belief the next big rally is closer than expected...So if you are still holding coin, either bitcoin, altcoin or meme coin, hold it tight, the next bullish is already on is way
Thanks for reading this entry my fellow traders!!!