RE: Is the BTC fall in the market over?
Dear @chucho27
Another solid piece of work. Upvoted already :)
Truth be told I would not expect that we've reached the bottom. If BIG news like the one about blackrock entering crypto space are hardly bringing any hype, but small press conference with FED chairman is bringing to much fear .... that doesn't sound like we're even close to the bottom.
I may be wrong, but it does seem to me that it's to easy to bring panic into the market. And there are still many large players who will use any opportunity to crash the market and accumulate more BTC whenever another panic-sell is happening.
Right now all eyes are on FED and inflation.
And according to Release Calendar next inflation reading in USA will take place on 13th september. So let's see what will be next inflation reading. If it will continue to go down, then perhaps markets will get some more hope. However, if inflation would get worse than month ago then I would expect that entire markets will go again into panic mode (in expectations of aggressive actions taken by FED at their next meeting, at the end of September).
Those are my 2 cents :)
Enjoy your day buddy,
Yours Piotr
Hello @crypto.Piotr.
Actually that Fed thing, the rising interest rate, the steady decline of the world economy, and how really easy it has been currently to panic the crypto market, are several of the factors that do not allow a recovery.
A few months ago there was talk of a possible correction of BTC reaching 10k in value or a little less, after 2 months in a stable zone, has left that possibility aside, now with the FED announcements and the 134k BTC to be released by the MT Gox project, the fear started again and the noise of 10k for BTC returns.
hi @chucho27
Any idea when could that happen?
I've been hearing about releasing funds from MT Gox project for such a long time. Almost as long as I've been hearing about Tether and it's upcoming collapse.
and it seem that I'm still waiting :P
Hi @crypto.piotr.
They announced that it would be in the month of August, but it is over and the release was not yet given, I imagine it may be given before closing this third quarter of the year, with the release of those BTC there may be an overselling of BTC at that time and bad news for the market.
I also wanted to add:
thanks for being so responsive and for replying to received comments @chucho27