The whole financial market is collapsing and we see that yesterday U.S stock market get up very bad day and most of the shares get down.
We also see that Bitcoin start dropping in price after reaching its all time high.
I told you guys that this market pump will be for short time and soon a heavy dump we will see. Bitcoin after reaching the price of 73620 it takes a huge correction. of more than 5%.
The crypto market is still confused and investors are still confused whether to go for short positions or long positions.
One of the main reason is that we are at the strongest support that is 69500.
Now we can say that it may be a correction or changed the trend. After completing the correction it may go again upside but also a scenario that it will go down to test the level of 66,000.
Overall, if I talk about the market scenario, it's not good. The current situation of the world is worse.The wars are ongoing.
FED interest is very soon and also the US election is near. considering all these situations there will be no sense that market will go upside.
All those who are telling that Bitcoin will reach $100K, I will not agree with them.
It may take a long time to reach this level, but for the short time the market is extremely bearish because of the current world scenarios.
As always I suggest investors to not invest in such a scenario because if you get stuck at this price you will not meet it in a quick time.
In case if Iran retaliates Israel, the market will again see another crash and will reach the level of 66K which is another strong support.
Now considering for those who are investing or already invested in altcoins.
It is to keep in mind that when Bitcoin was at the previous all-time high, the prices of altcoins were too much high.
But now, as of now, considering Bitcoin after reaching its all-time high, the altcoins didn't respond in such a way as it was in the previous all-time high.
Right now the price of Ethereum is at around $2500, but at the previous all-time high it was above $4500. These are the market scenarios.
People are not taking interest to invest in different coins or to consider altcoins.
Right now, the most safest coin is Bitcoin, but not good for investment at the current price.
You need to wait for the good support and for the world situation to get better.
What do you people think about financial market all over the world? Do you think Bitcoin will recover back and surpass its all-time high? Will be glad to see your answers in the comments section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
IMAGE TAKEN FROM CANVA
Thank You!
Best Wishes.