Antradienis, 25 birželio, 2024
Kriptovaliutos ir P2P

Winter Is Coming. Cryptowinter!

Oh, sorry, cryptowinter not coming. She has already arrived a long time ago. She simply pressed the freeze button and froze all the still lively little bulls into a ice-bone.Winter has been lasting since November 2021 with brief warm spells. But this time, it hit hard. The bear market celebrates victory! Hodlers, oh my dear hodlers…

Well, let’s see what happened in the cryptocurrency markets here. It turns out that both Binance and Coinbase cryptocurrency exchanges were hit by the U.S. regulator, the SEC. Clearly, the clients are concerned here and are in a rush to liquidate positions and withdraw funds.

Can Binance and Coinbase survive the SEC’s charges? Binance’s reputation was already down. Experts are now seriously wondering whether Binance will survive as a brand. To be honest, we are not really interested in how the trials will end. What interests us much more is what impact it will have on the market as a whole and whether that impact will be long-term. Because if it’s a war for the cryptocurrency market, then…

SEC Chairman Gary Gensler said in an interview that „we don’t need more digital currency”. What does this mean? This means that CBDC is coming, and other means of payment are not necessary anymore, it is enough for cryptocurrencies to be securities. However, we like cryptocurrencies because they are decentralized. So?…

The news for the cryptocurrency markets is so bad, and we can see that in the dynamics of their stock prices now. However, the US is not the whole cryptocurrency market. And it’s possible that today we have discounts on Bitcoin, Ethereum, and other prices. So we ask…

What benefits can we gain from the cryptowinter?

And how? Let’s take a look at the cryptocurrency market capitalization chart. Everything seems very optimistic here. The market is in the second Elliott wave. And according to the definition, the market still has room to fall:

Winter Is Coming. Cryptowinter!
Cryptocurrency market capitalization

According to this logic, the price of Bitcoin can still freely drop to around $14,000. This is good news for hodlers because they will have the opportunity to replenish their wallets with cheaper currency. The market didn’t reach the price of our signal announced earlier. Therefore, we did not enter a long position and did not incur any losses. Now we are looking for new signals for a long position. But as we said, there is really no need to rush here.

While we are waiting for buy long signals, we can take a short position. The Sell Short signal is @25 330:

Winter Is Coming.
BTCUSD

Ripple has already been affected by the SEC’s justice mill, so its price in the market is holding very strong. The signal of replenishment of position is @0.54226:

Winter Is Coming.
XRPUSD

STXUSD buy long signals is @0.6796:

Winter Is Coming.
STXUSD

Cryptowinter will end eventually.

Thank you for reading and commenting on this article.

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