Market Update mid-October, Is This Crypto Market Still Continuing to Redden Again?
Hello, all Steemian friends!
How are you all? I hope you are always healthy and enjoy the end of this week's weekend before continuing your activities on Monday.
Oh yes, I also apologize for not being able to carry out consistent updates on this platform some time ago because of technical issues, namely that the laptop I was using had a problem and can only be fixed now.
Let's return to the topic of elimination, according to the title. Will this October be a month that is still as bloody as last September?
Previously, I reviewed that this October, the crypto market will move less well or tend to be negative.
And we saw for ourselves that this week the crypto market did not move positively, and the war made the crypto market less attractive, so instead investors protected their money by entering the gold commodity market.
Thus, we see that within a week, the price of gold immediately skyrocketed significantly.
just like I said.
The crypto market is experiencing a downward trend in capitalization, as you can see in the image below.
Of course, this has a big influence on the price performance of crypto tokens. Let's say Bitcoin is experiencing a decline, and you yourself will look bored looking at the price.
Apart from that, we are shown by the strengthening dominance of the dollar index, which of course is inversely related to commodity markets, be it crypto or stock markets.
This is also made worse by the issue of war between Israel and Hamas.
Well, these will be months that cannot be said to be positive if we talk about data regarding crypto market movements, because there are many fundamental things that make this impact the financial market, one of which is the crypto market.
Conclusion |
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The influence of the war between Israel and Hamas greatly influenced the money flow of financial institutions, which shifted to gold, which was considered a safe haven asset.
The decision announced to the public by the Fed to raise interest rates once again this year also strengthened the performance of the dollar index in a positive position.
This fundamental thing is a strong blow to the crypto market movement until mid-October, which tends to be negative.
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We do not know for sure when the market will become bullish but we are expecting a bullish market.
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Yes, of course everyone's views are different, but for long-term trends, I am bullish on this cryptocurrency technology. However, at this time, we have to be patient with the market, which tends to show a bearish movement.
Thank you for the positive feedback.
I strongly believe, in this October the market will be bullish for a long time.
There are still 15 days left, friends, to see your projections for the bullish market this October. Let's wait.
Thank you, friend!
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Review musim yg menarik. Otakku masih belum bisa gabungin gabungin babgak hal. Haha. Beberapa waktu lalu USD. pernah juga market cap crypto. Wadohhh. Poseng 🙈
Untuk derivatif, sebenarnya naik atau turun sama saja. Cuma kalau pasar lesu dan struktur market random bakal buat kesusahan buat setup. Alhasil wait and see aja dulu 🏂
hahaha
semalam kita ga bahas ya kim 😅
anyway pengaruh price action gambaran dari fundamental.
banyakin ngudut sama ngupi kim biar ngacir mikirin perjalan crypto😂