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.
Not that something new anymore on which this market has been volatile in the first place, its not really that anytime been tied up with those traditional markets that we do know and its not something that it would correlate from time to time in speaking about trend and possible movement on the same path but somewhat when it comes to economical news then it is really that having that having that significant effects which could really be giving out that kind of impression that it does really give out that same effect in between markets. Bloodshed? Its not really something new and its been always like this specially if fundamentals turns out to be very negative and there are moments on which even on the quietest days on which the price do move into a certain way without even trying to know on whats the actual reason behind it.This is why its really hard to make out such conclusive approach when it comes to this one. The best thing to be done on here is to make yourself that versatile on whatever market decisions you would be making into.