Fundamental analysis: Cryptocraft

Hello dear friends once again I come with mind blowing content concerning the crypto world to you, going to the article I simplified my content in simple items and in the best way ever I explained every abbreviations that you must have come across while reading the article.

Yesterday something tradic happen in the whole crypto ecosystem most crypto asset experienced a deep bearish trend that liquidated a lot of long traders over a short , period of time, this bearish trend saw Steem move from $0.2640 to $0.2178 and Bitcoin from $71,000 to $68,400. A lot of traders didn't expect this bearish activity that hit so many people in a very bad way because a lot of people lost so much money from trading yesterday.

This incident was as a result as a result of the Federal government of the United States of America released their monthly general employment data, which of fortunately increase to roughly 4% when compared with previous data from a longer period of time of around 2022. This on employment ratio had a very serious impact in the price action of traders and in the price of the asset or which they trade or investor at that period of time. Since this very incident till now more than 300 million dollars was liquidated because they placed a long trade.

The reason why I started with the news is that I want you to know how important I'm very very vital the fundamental market can be, this sort of bearish trend can't be found or discovered using any sort of technical analysis tool. And I believe so well that traders who also had fundamental analysis to their trade didn't experience such drastic movement.

crypto craft

Looking above you can see my crypto fundamental new source gave me a legit information concerning the meeting that generated this bearish movement. Am I looking at it he will see that my source has different colored arrows on different news and information they have.

But by just ordinary looking at it he could see that the red arrow signifies that the meeting might have a very strong impact on the price actions of the market, so therefore when placing a trade around this period, it is expected that traders take serious caution before buying or selling at this time of the day. To be on a safer side it advised that you avoid trading in general till the meeting is finished, in this way you are safe no matter the outcome of the meeting.

crypto craft

Also we could see yellow colored arrows which shows that the meeting would have lesser impact on the price of the asset the trader wishes to invest on or trade on. In general the lighter the color of the arrow the less impact the meeting have on the price action and traders decision in the crypto market and the deeper or darker the color the higher it is for the asset to have strong impact on the price of crypto asset at the period in which the meeting is holding.

One of the most trusted site where I get my crypto fundamental news and information is Crypto craft although Cointelegraph has also been really helpful in breaking down fundamental news to me especially when it comes to cryptocurrency.

Thank you very much for going through my article I really appreciate I hope you now know the value of fundamental news before trading.