BITCOINs rally could start soon! But will fundamentals confirm?
Hey tradomaniacs,
Bitcoin is about to re-test the primary trendline and a strong support-zone.
According to my wave-count we should see the next rally to start really soon, but will fundamentals confirm?
Since Bitcoin is part of the financial market as e.g. ETFs we see more correlations to indicies such as SPX500. This shows that the overall sentiment has an impact on Bitcoins price-action..
Today we`ve got news about a new corona-virus-variant aswell as rising cases world wide. If this crisis continues and we face another lockdown central-banks such as the FED could face a real problem.
If the economy will need more support due to the crisis the FED will have to decide whether they either fight the inflation with an acceleration of the tapering and to raise interst-rates as planned and slow the growth of the economy down, or they change their plans and keep the rates low, support the economy with more money due to the emergency and boost the inflation.
The second case could be a really strong booster for BITCOIN since the market tends to see BTC as an inflation-hedge / protection.
What do you think is going to happen? Will corona be a big problem once again? Or are these headlines fleeting stars?
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me
Bitcoin is about to re-test the primary trendline and a strong support-zone.
According to my wave-count we should see the next rally to start really soon, but will fundamentals confirm?
Since Bitcoin is part of the financial market as e.g. ETFs we see more correlations to indicies such as SPX500. This shows that the overall sentiment has an impact on Bitcoins price-action..
Today we`ve got news about a new corona-virus-variant aswell as rising cases world wide. If this crisis continues and we face another lockdown central-banks such as the FED could face a real problem.
If the economy will need more support due to the crisis the FED will have to decide whether they either fight the inflation with an acceleration of the tapering and to raise interst-rates as planned and slow the growth of the economy down, or they change their plans and keep the rates low, support the economy with more money due to the emergency and boost the inflation.
The second case could be a really strong booster for BITCOIN since the market tends to see BTC as an inflation-hedge / protection.
What do you think is going to happen? Will corona be a big problem once again? Or are these headlines fleeting stars?
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me