WHY NOT TO EXPECT TOO MUCH FROM THE #WhiteHouseCryptoSummit
High levels of volatility are expected from this upcoming Friday's key events, namely the latest incoming NFP (Non-Farm-Payrolls) reading and the White House Crypto Summit, in partucular from the latter, given the extent to which this news-driven crypto market appears to be pricing in anything revolving around the confirmation of the long-awaited strategic crypto reserve
This implies that in order to actually stand a chance of even matching such level of expectations driving a rebound for #BTC as well as for #ETH and altcoins even further, there would most likely need to to arise still unkown and therefore unexpected positive drivers linked to such already priced in developments, at the risk of otherwise triggering a selloff potentially making this latest rebound into another bearish fakeout
As a matter of fact, even pro-crypto politicians such as Senator Cynthia Lummis have been hinting that actually setting up such strategic crypto reserve might take longer than expected
Which is why I am hereby again highlighting the key relevance of risk management, always closely linked to our profile as traders and investors, in particular to avoid being foolishly misled by unreasonable expectations
