RE: Let's Talk About The Bitcoin Cycle Top and Chill Out
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Although, probably not a major catalyst to the current crypto market dynamic, the recent "trade war" by the United States against Canada, Mexico and China may have played a role.
On TikTok, I saw a video where someone was blaming the market dip on Donald Trump. Being the inquirer that I am, I asked if they can bring any evidence to it. Of course, they did not. However, I did think it was interesting that the crypto market dip coincided with the recent declarations by Trump.
Seeing that the value of both the Canadian Dollar and the Mexican Peso have dipped against the USD, I think it's an interesting display of current events.
So, I guess we can ponder on this question: Is the crypto market falling due to uncertainty in the crypto space or is it fueled by confidence in the United States Dollar?
I suppose this is one question among others that I hope people ask themselves.
We see these kind of movements in the markets all the time. Just go back and look at the charts, it tells the whole story. The market is doing nothing but building market structure at these levels. The 'news' is all just noise at this point in my eyes. At the time of writing this, Bitcoin is already back over 101K. When the DXY moves like it has in the last few days, there is bound to be volatility.
This is nothing more than a shake out of weak hands.
This is why I stopped listening to people's opinions and look at the facts, which is usually all in the charts. The fundamentals are the same, nothing has changed.
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