Cleaning is really powerful! 🩸
For everyone who didn't understand why cryptos dropped, it's not just because of institutional and state selling, but it's especially correlated with traditional markets.
And why are traditional markets falling?
So yes, the -6.81% on the S&P 500, -12.38% on the NASDAQ, and -14.60% on Bitcoin in such a short time is shocking to some...
But when we take a step back, it's okay to let market players take profits after a run of more than 600 days with such a beautiful breakout of all-time highs!
And it's normal for the market to anticipate the Fed's pivot on September 18, given the data and J. Powell's speech at the July 31 FOMC meeting we saw together. Every time, it's followed by a big crash, so the market is just pricing it in a month and a half in advance.
So personally, I feel quite comfortable in the market. I continue to accumulate and prepare for the second part of the bull run, which will likely start in a month.
In short, it's due to macroeconomics and unstable geopolitics.
On one hand, there's an escalation of violence between Iran and Israel, and on the other, an ultra-fragile American economy as we're on the brink of a recession. The market is anticipating a big crash related to the Fed's pivot expected on September 18.
In any case, these are just short/mid-term movements, and personally, I'm still ULTRA BULLISH. You just need to be patient as always. Only true warriors will come out on top!
