Crypto was looking not quite good but at least better than it had previously looked in the past week. There was enough of a better feeling to check your Binance app an extra time before going to bed. Then Trump decides to open his mouth about how the U.S. was going to react to Iran's missile launch
Bitcoin dropped a little, Ethereum too but at least it's not bad and it seems to be on the green side from what I knew it to be when I checked last week.
But the crypto drops happen so fast and one guy in my investment group page who put money into crypto last month is not too happy now. He was ranting all over. It's a private group I would have screenshot his rant and added to the blog.
Geopolitics combined with crypto has this tense relationship where nobody preps you for it in the beginning. You learn all about charts, you read about halving cycles, you binge watch YouTube videos at 1:00 AM on crypto, and then a missile is launched somewhere causing the fundamental analysis to basically be thrown out the window
The crypto market was working its way back up from the crypto drop. Slow and cautious, testing the floor type of climbs. Well that is now gone and I'm left in holding zones waiting on the U.S. and Iran. I don't have much money in BTC at all so a change won't affect my life in any way. It's mostly a way for me learn trading. I always keep it less than $50.
If you want to sit in limbo waiting to see what the U.S. does or if there is going to be an escalation between the U.S. amd Iran, I get it. It takes time to watch and wait.
I know this is slightly irrational but it's a concern, the speed at which sentiment changes. One statement from the President and that is all that is needed. The reason behind the instability in the crypto market is really because of the external forces outside of the crypto realm. The outside world is in chaos that no algorithm has a good enough clue on how to predict which is why if you're trading, these moments you need to be more alert and more knowledge about what's happening worldwide.