Total Crypto Market Cap $ back to 1 trillion? More downside?
From my point of view the further crypto market development is heavily dependent on macro factors such as:
- Federal Reserve's decision to hike interest rates in the upcoming months to curtail the rising inflation in the country
- Stability of the US stock-market which is heavily correlated to the crypto market
- Leverage portions within the market: According to coinglass.com, long positions worth over $1 billion were liquidated in the last 24 hours
- Conflict in Eastern Europe
Chart patterns are important but macro factors should always be considered! I still have my long-term positions but also put some cash aside! Not financial advice!
- Federal Reserve's decision to hike interest rates in the upcoming months to curtail the rising inflation in the country
- Stability of the US stock-market which is heavily correlated to the crypto market
- Leverage portions within the market: According to coinglass.com, long positions worth over $1 billion were liquidated in the last 24 hours
- Conflict in Eastern Europe
Chart patterns are important but macro factors should always be considered! I still have my long-term positions but also put some cash aside! Not financial advice!