As the year comes to a close and the holiday season is in full swing, I've been taking some time to be with family and away from the desk. However, I’ve already shared my updates on Bitcoin and altcoins. If we see another dip , it could present a great opportunity for a potential 'New Year Rally.'
If you're looking to position yourself for the current market cycle, consider partially accumulating spot positions in coins like $TAO, $ETH $ondo , $VIRTUAl , $LINK, $SUI, and $ENA. These assets have strong potential for the upcoming growth phase
The FED rate cut was seen as a positive(25BPS as we expected) , But Powell's comment that the "FED is not allowed to own Bitcoin" shook the entire market. This statement, combined with his remark about the impossibility of a U.S. BTC Reserve, caused widespread among investors. The market reacted strongly to these comments, leading to a significant drop in Bitcoin's price.
The crash can be attributed to the mistaken belief that the U.S. BTC Reserve, which had once seemed like a possibility, is no longer feasible. This news panic selling and further volatility in the market, @jixntcc_
In the CRYPTO market, bid and ask are prices that indicate the highest price a buyer is willing to pay and the lowest price a sellers is willing to accept for a stock or security:
Bid: The highest price a buyer is willing to pay for a stock Ask: The lowest price a seller is willing to accept for a stock Bid-ask spread: The difference between the bid and ask prices
A successful trade occurs when a buyer purchases at the ask price or a seller sells at the bid price. The bid-ask spread is a transaction cost that goes to the market maker, who profits by buying at the bid price and selling at the ask price. The bid-ask spread indicates the stock's liquidity. In highly liquid markets, the spread is minimal, while thinly traded markets have significant gaps. Market makers adjust their bid and ask prices based on factors such as market conditions, volatility, and inventory levels. You can find the current bid and ask prices for a stock on a trading platform provided by your stockbroker.