You may wonder why the crypto market is again red today, after the green yesterday. According to the latest articles, it would be due to the new increase of the interest rates decided by the US Fed. Does it make sense? Not sure, because most of the stocks are up. Furthermore, as they increase the interest rates to slow down inflation, it should be a positive sign for Bitcoin, which has been conceived as a tool to fight against inflation.
So, why are your coins dumping?
There is only one explanation: the confidence of the buyers. We are enter a bear market, the small hands lost confidence and sold their coins. You may be part of them. You are right to sell your coins if you need the money now. But if you do not need it now, why selling now? Be patient, it will take time, but it will bounce back, sooner or later. Apart from an urgent need of money, the only good reason to sell now is a clear trading strategy. If you know what you are doing by trading, please let me know. There are so many technical analysis that I cannot say who is right or wrong.
What's next?
Bitcoin will continue to range around 35k$ for a few weeks, will decrease below $30k in the worst case, with strong support at $24 which it should never break, and any case will likely bounce back to 40k+$ in 2 or 3 months at the latest. It is not a financial advice, just an intuition. Be cautious with the coins you buy, as it may continue to dump for a while. Stay on the safe side with ETH and BTC and if you want to diversify... Choose well between the best ones, it could be EGLD, CRO, AVAX, MATIC... Who knows? It is a bit like gambling. So DYOR and relax. And at the end of the year, you will be happy.
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