The impact of macroeconomics on the crypto market
Hello respectable Steem Alliance community, I hope all members are doing very well and have had a very interesting and productive week. I have been evaluating some interesting and informative posts you share in the community regarding the use of technical indicators in trading, and they are usually quite effective, I know of a few in particular and yes, they can be beneficial for trading.
However, there is something that in general is not considered for trading and is a determinant in the dynamics of the global market, and this is the macroeconomic. Yes, the economic news, especially those that correspond to the great world powers, can alter the market in a way that makes the financial, stock and of course, cryptographic markets retreat in large percentages.
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Of course, this can also help drive prices up in ways we haven't seen. A clear example of this was what we saw in times of pandemic, something that is very recent. You will all remember that when the Covid19 pandemic was proclaimed the government of Biden, president of the United States, announced what would be the greatest support to the citizens of that country, so that they could handle the situation without going into chaos.
To this end, they printed a lot of money, which was given away in the form of government support to a large part of the population, which made it possible for these citizens who had lost their jobs to have a decent living despite the lockout.
This meant that many people who were able to keep their jobs but work from home, had this additional income granted by the American State, which in turn gave them the margin to invest in risky assets, such as cryptocurrencies, stocks, NFT, among others.
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You will all remember that stocks (especially technology stocks like TESLA) went up in price, as well as Bitcoin, even Steem was these days above 1 dollar for some time, and other cryptocurrencies also went up a lot in price, it was the Play to Earn Games Boom....
Anyway, with this what I want to say is that if it is very valid the technical analysis with the use of indicators, we can not leave aside the macroeconomic analysis of the economy, because they directly affect the price of cryptocurrencies, and all assets, to raise or lower its price.
What do you think would happen if the Bitcoin ETF is approved to Black Rock?, this would be a news of great impact, most likely of positive impact, would it raise the price of Steem?, we will know in the coming months. I would like to know what you think about it, I read you in the comments.
Dear @josevas217 ,
We appreciate your active participation and contributions to our community. To ensure a positive environment for all members, we have implemented a set of guidelines to maintain respectful and constructive discussions while upholding community guidelines.
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Please I recommend that you go through the community guidelines before posting in our community.
Please make use of at least two copyright-free Images in your post, and also increase the quality of your post.
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Hello friend @jueco, thank you very much for the evaluation.
I have reviewed the community Guideline post again.
I have not used Images but Gifts, it is a little more work, but I like the mobility they give to the posts. But still, they are copyright free, I don't know if I did something wrong, could you correct me so I don't make mistakes again, if that is the case, of course
Ok, the community rules require at least two images in every post you make
ok, I understand, I won't use gifs but images. Perfect, thanks for the clarification.
And also you can use a word count guide of 500 for your post, it will help improve it's quality.
Check out the post of lhorgic in our community
ok, I just checked, it's 468 words long. perfect, I'll check out that post by lhorgic
and I will abide by those rules, at least two images and more than 500 words. Thank you