Macro factor Bitcoin To Remain Under Sell Pressure

Bitcoin to remain under sells pressure says a well know crypto analyst Benjamin Cowen as the told he’s audience on YouTube. Is the worst yet to happen to the primary digital asset or we have witnessed the worse of all bearish market movement.

source

The current crypto climate leaves both investors and traders think other wise as liquidation still continues but not has rapid it was couple of weeks ago, with the release of the inflation data earlier today US federal reserve which has given us a hint that the bearish market still continues.

The US federal reserve from he’s words stating that they will defiantly remain hawkish until inflation comes down, then again I ask myself has is it possible for commodities go back to prices they used to be, cause in the country which I reside in anything or commodities that goes up remains so if they have been change in price except the change is influenced by the federal government.

Cowen states that the US dollar is in a bill market because of the current crypto market situation as when bitcoin is bearish the United States dollar is bullish Vice-Vesa, in he’s words which I do quote;

As long as the dollar remains in this macro bull trend, I think it’s safe to assume that Bitcoin’s going to remain under some sell pressure here. And not just Bitcoin, but in general risk assets.

The main point of all this is to say we have inflation data coming this week, and it’s likely going to be higher than it was last month, and therefore, when you look at it year over year, we’re likely going to look at this and say, ‘Well, inflation hasn’t necessarily peaked.’

Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Posted Using LeoFinance ^Beta