THE CRYPTO MARKET IS “WELL POSITIONED!?!”🤔

We chatted yesterday about 48K BTC moving off the Coinbase Pro platform on Tuesday but I see that the price has done a whole lot since then. BTC comes in today at $19,030.

You know that BTC is the world’s largest cryptocurrency by market value (market value is the amount for which it can be sold) and it seems to me to be holding up well despite the craziness of the stock market with bearish news all around, and economic uncertainty amid rising inflation. (Remember that bullish moves mean the market is going up, people are buying, and bearish moves mean the market is going down - people are selling).

Last week, the CPI (Consumer Price Index) came in worse than expected, and usually bad news with the CPI causes markets to tank even if only temporarily. As expected, BTC fell but recovered quickly! (The Consumer Price Index is a measure of the average change over time in the prices paid by consumers for goods and services).

“The fact that crypto is holding up so well with bearish news tells me that the market is already too well positioned for the downside and is happy to take on some risk going forward,” Matteo Bottacini, an analyst at Crypto Finance AG, wrote in a note on Tuesday.😳 Welp!

Well, guess who’s happy about that? Me! I’m always happy, lol! I’m happy in the bear market because I can trade the dip (if you want to know what trading the dip is, please let me know). I’m also happy when the crypto market is bullish, because either way there’s money to be made.🤷🏾‍♀️

Have faith in God and stay in faith concerning BTC. Your best is yet to come!🙌🏾🙏🏿

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.