🔍 3 MAIN REASONS BEHIND THE DECLINE OF BITCOIN AND CRYPTOCURRENCY:

1️⃣ U.S. JOB DATA BEATS EXPECTATIONS

  • The latest jobs report shows 8.096 million jobs created, much higher than the forecast of 7.605 million.

  • Positive economic data means the FED will cut interest rates less, putting pressure on risk assets like cryptocurrencies.

2️⃣ CONCERNS ABOUT A NEW PANDEMIC

  • Information about the HMPV virus has emerged - likened to a potential threat similar to the C-19 pandemic.

  • Reports of infections worldwide have created a sense of panic, causing the investment market to react negatively.

3️⃣ OIL PRICES SOAR

  • Russia and OPEC members have tightened oil supply, pushing oil prices higher.

  • The rising energy prices are increasing concerns about inflation, hindering the FED's ability to aggressively cut interest rates.

⏩ FORECAST: WILL THE MARKET REVERSAL HAPPEN SOON?
Although the market is under pressure, these factors may be overstated.

💥 A strong recovery could happen unexpectedly, bringing cryptocurrencies back to an impressive growth trajectory soon. 🚀

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