#CryptoMarketDip
THE ELECTRONIC CURRENCY MARKET IS PLUMMETING – WHAT ARE THE REASONS?
🔍 3 MAIN REASONS BEHIND THE DECLINE OF BITCOIN AND CRYPTOCURRENCY:
1️⃣ U.S. JOB DATA BEATS EXPECTATIONS
The latest job report shows 8.096 million jobs created, much higher than the forecast of 7.605 million.
Positive economic data means the FED will cut interest rates less, putting pressure on risk assets like cryptocurrencies.
2️⃣ CONCERNS ABOUT A NEW PANDEMIC
Information about the HMPV virus has emerged – likened to a potential threat similar to the C-19 pandemic.
Reports of infections globally have created a panic mentality, causing the investment market to react negatively.
3️⃣ OIL PRICES SOAR
Russia and OPEC members have tightened oil supply, driving prices up.
Rising energy prices increase concerns about inflation, hindering the FED's ability to aggressively cut interest rates.
⏩ FORECAST: WILL THE MARKET TURN AROUND SOON?
Although the market is under pressure, these factors may be overstated.
💥 A strong recovery could happen unexpectedly, bringing cryptocurrencies back to an incredible growth trajectory in the near future. 🚀
