If you refer to crypto currencies as actual "crypto companies", you will then see the value stored in them is purely ran from speculative observation. We as a society need a universal digital currency but I do not think it will be one of these "companies". A stable coin is what the central banks will like which aren't either inflationary or deflationary. Until the true value is shown with these companies through the blockchain and creating actual revenues which fit certain market values.
That is a small fundamental point of view along with extreme amounts of money being pulled from brokers; on short position. From a technical aspect I will dive into daily timeframe which it is on, 4hr and the 1hr.
The daily timeframe shows weakness as it has fell below its previous high during its uptrend toward.
The 4hr timeframe shows a lower high with combination or lower lows, with rejection of the 40k level very clear.
That is a small fundamental point of view along with extreme amounts of money being pulled from brokers; on short position. From a technical aspect I will dive into daily timeframe which it is on, 4hr and the 1hr.
The daily timeframe shows weakness as it has fell below its previous high during its uptrend toward.
The 4hr timeframe shows a lower high with combination or lower lows, with rejection of the 40k level very clear.
Comment:
Daily
Comment:
4hr
Comment:
1hr