$BTC plunged by $2,000. Over the next month, watch out for a sizable correction.
There are just three reasons:
First, Token2049 is here, and the big players are off attending the conference. Everyone knows prices always dip when there’s a conference;
Second, the market has already priced in no rate hike at the end of the month. No hike isn’t really good news, while an actual hike would be bad news;
Third, the midterm elections. If the Republicans lose both the House and the Senate, this round of crypto policy changes is basically over.
With the conference underway, rates up in the air, and an election loss, the market could easily take a hit first.
There are just three reasons:
First, Token2049 is here, and the big players are off attending the conference. Everyone knows prices always dip when there’s a conference;
Second, the market has already priced in no rate hike at the end of the month. No hike isn’t really good news, while an actual hike would be bad news;
Third, the midterm elections. If the Republicans lose both the House and the Senate, this round of crypto policy changes is basically over.
With the conference underway, rates up in the air, and an election loss, the market could easily take a hit first.
