The Near Future Of The Crypto Market
In todays blog I wanted to go over what I see for the crypto market in terms of the near future. There's just been so much news in the public recently about cryptos. Which I wrote a blog about why so. But besides that another contributing factor was Elon musk speaking out about owning some cryptos and his companies owing bitcoin. Then on top of that the event he was speaking at also brought some more attraction to the cryptocurrency market. So we can expect some more retail investors to be getting into the market. In todays blog we're gonna go over some other market conditions that are really effecting the market as well. Lets get into the post and lets see what this means for the market.
Inflation
First lets look at some other market conditions that are currently affecting the market as of right now (7/22/21). One of these market conditions is inflation of the U.S dollar or USD. The consumer price index coming out recently has really effected the market. If you don't know what the consumer index is its a statistical analysis of the prices of goods over the last couple of years in the United States. What it basically said was inflation of the USD was growing incredibly fast by the year and had hit a inflation rate of 5.6% over the years. Now most would assume that this means people would start saving and buying low risk assets such as bonds. But in fact the opposite had happened. Stocks and everything else went down but cryptos in fact grew from all of this. Now while it wasn't much and shortly after the market went into a down trend again. But it shows people see the potential and future of cryptos to be a counter inflation currency everyone can use and benefit from. As my E.U and U.K friends and readers don't have to worry to much as the euro and pound hasn't been hit to hard as the dollar has during the pandemic. However this does effect the rest of the world as much as the us or much more.
Publicity and News
another contributing factor to cryptocurrency prices is the publicity and news coming out to the public surrounding cryptocurrency. If you been watching news on the tv or scrolling through social media you might or probably have notice all the news surrounding cryptocurrency. this is in no thanks to Elon musk hyping up meme coins particularly DOGE and on the occasion some other meme or shit coin. Now this has had two effects on the market. One is it has increased the publics curiosity about what cryptos are and how they work. However it has had a bad effect on the market as well. This is because people don't do their own research before investing and just go off of what Elon says or whatever the news and media are saying. Because they see all these people buying crypto and talking about it and FOMO(fear of missing out). before you invest into crypto do your own research so that you don't end up like those people and loose your money. It just like stocks but a little simpler you can't just throw money at the stock market and expect to make profits you have to research what company you want to invest and and this is the best for the future. Well cryptos are the same you have to research which crypto you think is the future or has a bright future that isn't scammy and clear. Shitcoins have also been the main reason for all the publicity. People get into crypto see a shitcoin doing really good right now while everything else is down in this bear market and buy it up with their savings. THIS IS HOW YOU LOOSE MONEY. shitcoins only get into the publics imagine and media because buyers need other people to invest into those cryptos to keep it green and going up. It's a pyramid scheme for cryptos be careful and do your research.
celebrities and influencers
One last condition effecting the market right now us celbs and social media influencers spreading more awareness about cryptos to others that aren't aware of it or aren't into investing. One celb we all know that has been really getting the public into investing is Elon Musk. But other social media influencers and celbs I've notice have also been promoting cryptos. Now typically these celbs and influencers especially the social media influencers promote shitcoins. this is because they have some personal interest in these coins. Weathers it's their personal money they have invested into or have been paid by the shitcoin team and developers to promote it. Whatever it is its only for their good and you shouldn't listen to them. But as we all know humans aren't perfect and make mistakes and people still go on and listen to them and buy into it. This is going to have a big effect on shitcoins once the market starts to bottom out and everyone notices how bad cryptos are going down and the people with the most shitcoins typically the devs and influencers working for devs sell out. This is going to turn off the uneducated retail investors which is the majority of retail investors from buying cryptos and this is going to have a bad effect on the market.
Market Analysis
Now lets get into why you are all here. Before we get started though let me say this is not financial advice so don't take it as such. Now if we look at what the market has been up to we can see that what typically the market goes up for the week right after a dip then when the weekend comes it dumps again and usually to a lower price then it was in the previous weeks. Then on top of that I believe Elons new statement is going to cause a crash this weekend where we could possibly see bitcoin bottom out to $26k-$28k. What I believe is that Elon is trying to manipulate the market since we are at the bottom of bitcoins price getting any lower one last time before the next bull run or at least before the market stabilizes. In my last post about the price of crypto and my thoughts on the market I was right so I believe again my predictions are going to be right I already have my orders ready for the dip.
My Final Words
If you enjoyed the blog leave a like and share it with somebody. Leave me some feedback with your comments to let me know how I did. Let me know what you liked and what you didn't so I can improve the blog. All your likes and comments are deeply appreciated. Follow the blog to stay up to date along with my socials where I post daily content as well. Then there's also my website where you can put in a submission form to let me know what topics you want me to cover along with other things such as referral codes and affiliate links. Thanks for reading hope you enjoyed.
Follow My Instagram
Link To My Website
