The market has been quite volatile in the past few weeks, and it has left many investors worried. While there are many factors that can cause the market to drop, the most common one is the uncertainty of the US government’s policy. The Trump administration has been pushing hard to get tax cuts passed, which would benefit individuals more than corporations. However, the tax bill is proving to be a hard sell in Congress, as the House majority is pushing for the bill to be more balanced. If the legislation is approved and signed into law, it will demonstrate a further weakening of existing regulations and government oversight. This would likely cause a surge in the market.
The cryptocurrency markets have been in intense chaos for months, with prices spiking up and down, with no clear indication of when the current cycle will end. This is a pretty common theme across the crypto space, where investors worry about the fate of the markets, whether there will be a bear market and when it will end. But, in all honesty, for the most part, the markets can’t really be blamed for the chaos. In fact, the main reason for the markets’ instability is the lack of regulation in the space. This lack of regulation doesn’t just affect the markets, but also the investors who buy into them.
There has been a lot of attention on the crypto market lately and for a good reason. The crypto market has been doing very well this year and could reach a value of $1 trillion by the end of this year. This scenario would be in line with the market’s previous history of growth in 2018.After the collapse 12 days ago, uncertainty has set in on the crypto-currency markets. Online performance has changed dramatically over the past two weeks and we are seeing a significant shift in the mindset of the average retail investor. Most short-term holders are now beginning to think and prepare for a long-term position. After extensive investigation of the chain, we found that coins that were transferred to exchanges before the reset are now returning to wallets and there is a net outflow of all exchange reserves. The last few weeks have also seen more accumulation addresses (7430 new addresses in 7 days) than before, which is mainly an indication that short-term holders are now becoming long-term holders. The low price of bitcoin and other cryptocurrencies has also attracted new businesses. Based on technical support and intra-chain analysis, we see upside potential in the 40k-60k range, and if things go wrong and bitcoin drops below 30k, the next support line is just 20k. Major players have bought nearly 50,000 bitcoins in recent weeks. So we can say that we are in an accumulation phase and most investors are waiting for a confirmation upwards. While retail investors have regained confidence and are buying at these lower prices, technical traders still seem reluctant to take long positions. Most of these traders trade intraday – they buy low and sell the same day. Another important point to consider is the total supply held by long-term owners. We are witnessing something totally new at this stage of the cycle: Long-term holders continue to accumulate funds and short-term investors begin to speculate and sell their share of the coins. In previous cycles, retail investors and long-term investors overlapped for a long period of time, but in this cycle we see the gap between the two widening. It would be nice to have a much broader diversification for short-term and retail investors, but they need to take a long-term view. For now, these accumulation addresses are in a defensive position, so we should see more short holders in this position in the coming months to get a long bull market. Here’s a little proof: The new units we talked about earlier are increasing in the system and the number of whales in the market is decreasing. Now it all depends on whether these companies keep the shares for the long term or sell them as soon as they make a small profit. In terms of mining companies and how they have accumulated resources during this market downturn, we see below that they have moved sideways from the peak, most likely due to government repression. Some sources also point out that due to the rainy season, the mining machines are being transferred to a new location. The big question now is whether the bull market will continue. In the long term, we see bullish signs and the underlying indicators support this as well. In the short term, however, it is best to remain positive, but to react speculatively to market movements. Kartikeya Gutta, born and raised in India, is a cryptocurrency journalist and freelance writer for the website itsBlockchain. It covers various aspects of the industry through in-depth analysis and research. His passion for blockchain and the crypto-ecosystem is largely because he believes it can truly change the world and help millions of people.
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Sign up to be notified of the latest posts.The cryptocurrency markets are currently in a state of flux. Following a week of relatively stable prices which saw the Bitcoin price drop to $8,500, the markets have undergone a dramatic reversal, and Bitcoin has jumped to almost $9,500, the highest level since September 15. A while ago, some were predicting that the bull run was over, but this is not the case, at least not yet. In the short-term, it seems that the market is still in a state of flux and there is plenty of room for further upside movement.. Read more about crypto news and let us know what you think.
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