Why did the market fall? The truth is revealed!
The crypto market has been a bit miserable recently, let's take a look at why!
First, the employment data is too good, which should be a good thing, but why did the market fall instead? It turns out that there are a lot of job vacancies in the United States, more than everyone expected. As a result, the Federal Reserve feels that the economy is still good and is unlikely to cut interest rates significantly. A rate cut is a big boon to our cryptocurrencies. Now that there is no news of a rate cut, the market is naturally pessimistic.
Second, a new virus has emerged, called HMPV, which sounds like COVID-19, and it scares everyone. Although there are only a few cases in the world now, the market has already panicked. This uncertainty makes investors feel uneasy and sells off volatile assets such as cryptocurrencies.
Third, oil prices are also joining in the fun, rising all the time. Russia and OPEC, the oil-producing countries, cut production, and oil prices naturally go up. When oil prices are high, inflation comes. When the Federal Reserve sees this situation, it is even more hesitant to cut interest rates. Our cryptocurrency can only flourish under loose monetary policy. Now that inflation is so high, it is not good news.
However, despite the current market situation, many people think that this is an overreaction. The fundamentals of cryptocurrency are still strong, and the halving cycle is coming soon, and the reversal may be in the next second! We have to be patient, maybe a super rebound is on the way!
The test of the bull market is not only the ups and downs of the market, but also the test of our mentality. In the face of changes in the account, we must remain rational. Next, I will announce the next ten-fold potential coin! It is better to grasp it than to guess blindly! Like + leave a message, free sharing.
