A STANDARD CORRECTION FOR THE MARKET
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The crypto market started dipping on the 18th of April, the liquidation only started happening when the price of BTC began to dip. We don't know for sure that cause the initial sentiment but it might be because of the sentiment that the cryptocurrency market is getting too much greedy. Of course, if you keep track of the fear and greed index you will know that the market is getting greedy and when the market gets greedy is a good indicator that it's the right time to sell. As of the time of writing, BTCs price was at $27,000 and it was in the range when it was trading last month. If Bitcoin breaks below the $27,300 range, it is possible next stop could be the $22,000 to $25,000 range. On the other hand, if Bitcoin breaks above this range, it will rally to $34,000.
We are curious if last week's market dip was a standard correction for the market or the beginning of another more dip. Based on the technical analysis point of view, it is not very clear and also from the fundamental point of view, it cryptocurrency market will come close to there previous high without institutional investment. All these that are going like the regulatory uncertainty have discouraged cryptocurrency investment by institutions. Institutional investors at now starting to invest in crypto via indirect means like paper derivatives found on traditional exchanges. We are starting to see this paper derivative beginning to rise which means institutional investors are interested in it.
https://twitter.com/special78122/status/1650551874913808389?s=20
Regulatory uncertainty is the main issue behind everything happening.
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