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Why the crypto market is falling explained to 7 yr old kid:
- 🇺🇸 said AI is the future. - 🇺🇸 Companies started building AI giants like OpenAI. - 🇺🇸 gave a demo. People got scared. -🇺🇸 said it requires billions of dollars to build AI. -🇺🇸 Companies raised money by showing this fear. -🇺🇸 Companies stock in AI started pumping. -🇺🇸 NVIDIA Marketcap > the GDP of the UK, France
Then enters 🇨🇳
-🇨🇳 says what you are building in $100, we are building the better product in $5. - People used it and found it better. - People in the world are feeling "scammed" by American companies. -American companies are "overvalued".
They are selling US stocks, especially tech companies in AI. The panic is growing and spilling onto crypto, especially the AI sector, which has also gotten pumped recently due to the euphoria around AI.
Now, if you understand, go and hit the like button!
Most of your crypto Guru are telling you that September tends to be the weakest month for Bitcoin and Altcoins, don't listen to them, listen to what charts are telling you.