Hi HODLers, Hiveans and Lions,
If you hear financial or crypto commentators, they will all tell you that Markets were due for a correction and claim they knew this would happen. The reality is that they have been saying this since January, 1st.
Geopolitical, Inflation and Economic numbers happened at the same time to create a risk-off moment. Selloff started on Friday and continued today. I believe the upcoming earnings from companies might help to buonce back.
Let's not undermine that US interest rates are climbing higher (while the rest of the world is
The latest estimates from CME Group’s FedWatch Tool see the odds of a 25-basis-point rate cut at the Fed’s July meeting at 43%, with September at 45%.
Bitcoin Halving is coming
Therefore, a lot of FUD is going on the market from "big miners sending $BTC to be sold on exchanged" to doomsday Twitter threads.
Miners have been net seller and I believe it will continue even after the halving until #bitcoin price stabilizes.
I hope most of you made it through this sharp drop and remember to always limit your leverage (it is even better to never leverage yourself!).
Stay safe out there,
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Posted Using InLeo Alpha