@Torque. You might be correct, however, it is much more advisable to be cautious, I reckon. The Federal Reserve has also announced that tapering might begin on November and rate hikes are speculated to begin next year.
Federal Reserve Chair Jerome Powell said the central bank could begin scaling back asset purchases as soon as November and complete the process by mid-2022, after officials revealed a growing inclination to raise interest rates next year.
Powell, explaining the US central bank’s first steps toward withdrawing emergency pandemic support for the economy, told reporters Wednesday that tapering “could come as soon as the next meeting.”
Source https://www.business-standard.com/article/international/fed-s-powell-says-taper-could-start-in-november-finish-in-mid-2022-121092300065_1.html
This will remove liqudity from the American market which might cause institutional funds to sell first because it is very much harder for them to move billions of money. I am afraid that this might cause fear and also affect the cryptospace market.
Topic: I have become cautious on the market - page 4. (Read 423 times)
This implies traders are short selling.
In order to create large long positions...
I have become more cautious on the market from speculating that it might pump similar to the pump of December of 2020. My reasons for this are China Evergrande and the speculated connection of Tether’s holding of Chinese companies commercial paper. Tether’s lawyer denies this, however, we cannot trust his word until we can verify this.
Also, bitcoin is moving higher after the dump, however, open interest is not increasing and funding rate is negative. This implies traders are short selling.
Also, bitcoin is moving higher after the dump, however, open interest is not increasing and funding rate is negative. This implies traders are short selling.
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