Most if not all traders (stocks or crypto), know what I mean when I say things like "prices are affected by market sentiment". Yes, the rise and fall of stocks and crypto prices are predominantly affected by people's emotion and the totality of this is called "market sentiment". Let see how this applies today to #NOT and #Bitcoin and the entire crypto space.
This is a great time to DCA (dollar cost averaging). The overall market is down because today, as stocks decline across major indices, investors are opting for a cautious stance towards equities. They are particularly apprehensive ahead of tomorrow's Consumer Price Index (CPI) release, which is anticipated to reveal a rise in headline inflation from 3.5% to 3.2%, up from last month's 3.2%.
As for #Bitcoin and crypto market, I've shared in my previous posting today this .....
WHAT IS CAUSING THE #BITCOIN DROP?
I suppose many are not aware of the real reason for the last few consecutive days of #Bitcoin drop. Do your research and you will find that the German government holds over $2.7 billion Bitcoin which was seized back in January. According to Arkham they sold about $300 million last week. What is very strange is that the German government did not sell OTC (over the counter) like Coinbase. Big liquidation like this would not affect much the price if sold OTC. But instead they sold on SPOT market like Binance. Hence that created the downward pressure on Bitcoin. This sudden drop also cause a bit of a panic to some BTC holders not aware of this fact. You also have Greyscale and Fidelity selling. But BlackRock is staying firm and holding on their stash of BTC.
PLEASE, DONT LET THIS GET YOU FUDed out!! FUD is Fear, Uncertainty, and Doubt. The biggest wealth building opportunity is in Bitcoin folks! Many have forgotten that only a few short months ago that 11 of the biggest asset managers including BlockRock, Greyscale, Fidelity and others have been approved for SPOT Bitcoin ETF. This is epic! These managers CAN'T sell ETF without the BTF in their portfolio! They are buying almost every week. Most are done OTC. But very soon there wont be anymore BTC to but from Coinbabse! They have no choice but to but retail via SPOT on crypto exchanges like Binance. This is a fact folks!! Just HODL and DCA.
Again dont get FUDed out !!
*** Again this is not financial advise but for educational purposes only. Please DYOR. ***
