There may be a short-term decline in Bitcoin, why?
Greetings friends, even though the general trend is upward when looking at bitcoin, we should not ignore the impact of other markets. Let's see together.
1-Gold
When we look at the ounce of gold, it seems like it finished the week at a peak. It is quite possible that a correction of this peak will come next week.
2-USOIL
Even though usoil pushed 87.55 today, it shows that it has peaked at the end of the day and may release some. It has been in an upward trend since February 05 and has made 4 peaks in the upward trend.
After receiving a reaction at 103.998, 3-DXY turned slightly green today and reached the level of 104.303.
4-SPX500 2023 has been in an upward trend since the 11th month. The increases have slowed down since mid-March and even if they do not decrease, it seems that they will remain stable for a while. Fed interest rate decisions started to slow down the economy somewhat.
In light of all this, if we consider that America may gradually sell its bitcoins. Depending on the short-term rise of the dollar and the situations in our own domestic market that I mentioned in my last article, we may experience a short withdrawal in bitcoin.
When you encounter this situation, do not panic and sell what you have at a loss. Remember, if you do not sell what you have, you are not considered to have lost money. However, if you are going to enter the market, it would be better to watch and see next week. If you are going to enter, do not forget to have some cash on hand in case you fall.
Good luck to everyone.
