What is the crypto market's next move?

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1 year ago

What is the crypto market's next move?

In today's article, I wanted to discuss with you my readers what the cryptocurrency market's next move is. This is very important because what is going to happen next is going to define how the market moves forward in the future. So make sure you read the whole article to soak in the information so you know what to do next. Because these next few weeks are going to be volatile. So with that being said let's get into today's important article.       

Bitcoin price movement

As of writing this article (8/31/22) the price of bitcoin is at $19,968 with a 24-hour gain of 0.1%. The price has been bouncing around this range for the last two weeks. It's been this ever since the last economic report for the united states came out on the 18th. The next big movement in price should be the Ethereum merge. Now I don't know if this will also uplift the price of bitcoin specifically but it will most defiantly uplift the prices of coins in the altcoin market. Speaking of the merge that leads us to our next topic. 

Ethereum merge

The Ethereum merge was officially announced to come out on the 6th of September. It comes in two stages with the first stage happening on the sixth. The second stage comes out between the 10th and the 20th. However, this merge can go as not planned or doesn't come out to meet the expectations of the market. Which can be bad for the whole cryptocurrency market as a whole. If that happens we will likely see a crypto winter until possibly the new year when holiday shopping spending goes down. 

The future of the market

Now all of this is just my personal opinion and isn't financial advice. So to start I think it's likely the market will continue to go down, especially as we roll into September which is known for being a bear month for most risk-on assets, especially cryptos. But as the second stage of the Ethereum merge comes out I think the market will start to pick up more. Then most likely by the time of October, we should see the bulls start to come in as we leave red September. So that's what I see for the cryptocurrency market in the near future. 


My Final Words

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Avatar for Jack216
1 year ago