The markets went through tough times due to the hawkish stance of the FED in the U.S. Since all eyes are on the data coming from the U.S. economy, each data, and speech by the members of the FED and Powel affected the sentiment in the markets.
As one of the most volatile markets, crypto experienced all good and bad days in a leveraged way. Because of the permanent sell pressure by the GBTC ( Grayscale's Bitcoin Future ETFs ) and the cease of direct Bitcoin ETF purchases, the crypto market lost its power to make higher - highs as a sign of reversal.
What are the reasons for the " all green " markets around the globe?
First of all, the CPI data from the U.S. came as expected in yearly basis.
Then, the inflation is no longer a problem in the Euro Zone. Once again, the data on Friday proved that the interest rate cuts are getting closer for the Euro Zone as there is no longer a problem of high inflation. Last but not least, the economy of China is ready to recover and go back to its good, strong, and old days.
When we look at the situation from a bigger window, we realize that the global impact on the market has dropped significantly because the inflation risk is almost eliminated all around the world. Like the interest rate hikes were the trend in the economies, the interest rate cuts may start at the end of summer of Q4 2024.
Even if you are away from being an active investor / trader, you can understand what Silver has done with its breakout. Similarly, we are likely to see the same pattern in almost of cryptocurrencies, market indexes, or stocks pretty soon.
Under normal circumstances, the price of Gold and silver were under the pressure of giant companies. The breakout signs that a new chapter is being opened with the help of economies going back to their default settings.
In crypto ecosystem, the altcoins we hold have lost more than 50% - 70% value in a short time. To be able to talk about a full recovery, the coins have to increase more than double. Rather than trading current prices, I will be on the side of hodling, too.
What do you think about the green trend in the markets?
Share your thoughts below 👇
Hive On ✌️
Posted Using InLeo Alpha
Everything except hive lol
Maybe next week ser 🫡
This is good news. Indeed a market relief we've been waiting for. Hoping the sun shines in the altcoin industry.
Rather than trading current prices, I will be on the side of hodling. No one is the market of the market so if your instinct suggest a hodl. It may a good thing sticking to it. Thanks for the update.
I disagree friend. Hive has failed to gain value. It's a tragedy. Wen moon?
I would not say failed actually. The strong support levels are not broken even though the market crashed
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