Why did it fall and what to expect now?
BTC has experienced a 30% correction over the past week. It is important to understand that such corrections occur during every bullish trend.
đ€But let's look at the reasons:
âïžThe looming recession in the US.
âïžTrump is gradually losing his lead in the presidential race, which makes some investors think about not very favorable conditions for crypto.
âïžThe Bank of Japan raised the interest rate from 0% to 0.25% in many years, which is a significant step.
âïžThe conflict in the Middle East, which increases risk aversion among investors.
âïžPartial capitulation of Jump Trading, which closed part of its positions on the market.
âïžDistribution from Mt.Gox
đ€ Based on all these criteria, we are on a local downtrend in the market. But if you look globally, then not everything is so bad, we have elections and a rate cut ahead, we just need to survive.
#LowestCPI2021 #MarketDownturn #MtGoxJulyRepayments #BankOfJapan #uselections
