How FTX could be BULLISH for BTCHi Traders, Investors and Speculators 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
I know this may sound strange, but the current volatility in the crypto markets may just go the opposite way of the most expected. Cryptocurrency markets, especially altcoins, are currently experiencing an overwhelming amount of fear. The market sentiment is overly bearish, and this usually makes a perfect opportunity to counter trade. By looking at the Wall Street Cheat Sheet, I can confidently say that I don't think the bottom is in just yet, for the sheer fact that we just experienced a HIGH volume selloff. Bottoms are usually characterized by LOW volume sell-offs after a longer period of sideways trading.
It is noteworthy that the FTX saga may bring on finalized crypto regulations very soon, and this could be bearish for altcoins (perhaps in the short term, but still). Some alts may not even survive the new regulations. The FTX saga together with the bankruptcy of many other crypto lending platforms might act as a catalyst for the government to step up regulations and implementation. That being said, Bitcoin will have an advantage over altcoins.
Haven't heard about the FTX saga and Sam Bankman? Don't worry ! Get up to speed here:
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