It has been a crazy time in the cryptocurrency market as dog-themed coins have spiked and fallen while the head of Tesla has also had his own impact on the massive Bitcoin market. Elon Musk has come out against Bitcoin’s environmental impact and tanked the price, but there are a lot of other crazy news events impacting crypto.
Ethereum co-Founder Vitalik Buterin made a sizable donation in a new coin called SHIB, and instantly crashed its price. But Ethereum itself is still doing remarkably well.
Outside of the crypto market, there was also some volatility as Wall Street had a bloody week as stocks plunged for the most part of the week due to fears about rising inflation while only Oil was somewhat unchanged for the week, with tension between Israel and Palestine expected to put a bid under the energy sector as a whole (PrimeXBT source).
The crypto market has a 4 year cycle that lasts within two halving dates. Each cycle session has approximately a 1year bearish market and it takes 3 years to have another all-time-high. Analysis should be confirmed with a strong technical tool like the RSI, which provides key info on who controls the market, either bulls or bears.
Ethereum co-Founder Vitalik Buterin made a sizable donation in a new coin called SHIB, and instantly crashed its price. But Ethereum itself is still doing remarkably well.
Outside of the crypto market, there was also some volatility as Wall Street had a bloody week as stocks plunged for the most part of the week due to fears about rising inflation while only Oil was somewhat unchanged for the week, with tension between Israel and Palestine expected to put a bid under the energy sector as a whole (PrimeXBT source).
The crypto market has a 4 year cycle that lasts within two halving dates. Each cycle session has approximately a 1year bearish market and it takes 3 years to have another all-time-high. Analysis should be confirmed with a strong technical tool like the RSI, which provides key info on who controls the market, either bulls or bears.
