To The Moon

The past few months have witnessed the crypto market go on a dynamic journey. Now that the market is catching breath, analysts are surfacing with their takes on navigating the industry. The incoming Fed's upcoming decisions can also affect the crypto market significantly. In general, market expects the Federal Reserve will lower interest rates once the unemployment rate reaches 4%. A sudden shift in policy may introduce liquidity into the market, which may affect cryptocurrencies.

You can see that we have fallen pretty hard during the week, but at this point in time, we have a situation where the market is going to continue to see volatility. The $60,000 level offering significant support I think, as drawn in the chart below. Therefore, you have to look at this as a potential buying opportunity.

Bitcoin daily chart

If we were to break down below the $60,000 level, then it's likely that we could drop down to the $52,000 level. We have been very parabolic and a lot of that hot money flowing into ETFs will be pretty much gone. So now it has become a little bit more of a stable market and quite frankly, that's a good thing. You can't have 90% runs in two months and expect the market to continue the same way it has been. So, it's going to be the same story here. You're going to be buying dips as they occur. And I think 52,000 would be ideal if we can get down there. 

Crypto

For long term, I remain pretty bullish for cryptos and also the relevant stocks or ETFs such as $Coinbase Global, Inc.(COIN)$  $iShares Bitcoin Trust(IBIT)$  $ARK 21Shares Bitcoin ETF(ARKB)$  $Block(SQ)$  $Riot Blockchain, Inc.(RIOT)$ .

Do you like crypto? Do you join the sharing session from Jayden Tan regarding the crypto? How do you see crypto trend for mid and long term?

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