What causes this market decline?
If we look at market conditions, especially this week Bitcoin prices are weakening plus the US Dollar Index (DXY), which continues to soar to peaks. yes. this was fueled by the prospect of US interest rates remaining higher and no respite. However, my view may be used as an accumulation stage for some investors and financial institutions, of course.
Maybe, we have seen the stock market going green, but bitcoin market somewhat on the decline. But if you look at the last 24 hours, we have some small gains, the price is now above $30,000 which is a good sign that the bulls are back and defending that price again.
So maybe if we will hear another good news coming from the US, specially a positive interest rate, we might be looking at $31,000 at the end of the month. I do believed that we can still jump or at least close this month around $32,000.