Hey Everyone ,
So in this video we are going to know about and talk about CRYPTO market . We will also cover some of the important news which is going around regarding crypto.
Crypto Market has been in a bearish mode since start of this month and we have seen all the crypto's in its Dip.
There is lot of fear in the market and fear greed index has a fear value =37. Nothing exciting is happening in the crypto market. The main reason behind the fear in the market is beacuse of discusion on tax laws , regulations etc.
In the recent time we entered a bearish market and we also saw DEATH CROSS in BITCOIN which also took BTC price down till $32K . Due to BTC all the other ALT COINS fell about 50% from its ATH and right now is at considerably good price to buy.
BTC is above a good support level and range between 40k-44k will be very crucial for it . We too can see another 5-8% fall in the prices before we again enter a bullish market.
Right now market is in a good bullish space and it may carry like this .If we see few coins which have carried the momentum and among them first is SOLANA which is 18% up in last 7 days , ETHEREUM is up by 16% .
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Further more MANA & SANDBOX are also performing well and has surged alot in last week about more than 20%.
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Now if we look at the BTC chart , we can see that we went down till 32k and after that price started to make a support for it and bounce back from there and recover from that range. Right now price is at $41-$41k range and is above good support level.38-40K was a good resistance range and BTC broke it with a good bullish candle , as you can see in the charts.
The bad news circulating in the market regarding tax , regulations also affected the market in recent time.
Further more if we talk about the big news in the market regarding CRYPTO , BIG WHALES are buying BTC and EL-SALVADOE bought approx. 400 BTC at the price of 37k and SAYLOR also bought BTC at same price range.
Every big investor consider this as a bottom and says that uptrend will start soon and by the QR2 we ll see coins at its new ATH.
Microstrategy also bought hefty amount of BTC i.e660 BTC for $25M .
So all these good news can bring a good phase in the market and we cann see huge recovery in the market.
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Thats all for the this post and i hope you like the post. Picture screenshots are taken from trading view and coin market cap site.
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