Will the market keep going down?
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well.
Today I will share some shocking news with you because if you look at the price of Bitcoin, you will see that yesterday Bitcoin suddenly spiked and went up to $106,000 and after a while the market came down very quickly and stopped at $103,000. Such a story happened a few days ago as you can see here Bitcoin reached $109,000 and here it came down very quickly. And such a story has been happening with Bitcoin continuously for the past two months and here Bitcoin has created a good support zone above $100,000.
But if you look at the market news, you will be even more scared because if you see here that the reason why the market is going down is the war between Iran and Israel. Due to the war, we are hearing rumors that America may be involved here, which can bring the market down further. That is why the market has become difficult for many or not everyone understands what to do next. Many people think that the market will fall below $100,000. Now it completely depends on America's involvement in the war, if America and Iran somehow solve this problem, the market will easily go above $110,000 again. But here if you see the counter-statements of both sides, you will see that no one is ready to make concessions here. If they cannot solve this problem through negotiations, then we will be able to see a downtrend between the crypto market and the stock market for quite some time, meaning the market will go down here or there will be a little more selling pressure downwards. Apart from this, what we were expecting or what the market was expecting for the last six months is not happening, the Federal Reserve is not changing the interest rate here or is not lowering the interest rate here. And this interest rate is a very important thing for the overall economy, the market dumped here yesterday because of this irreversible news.
You can see here that a good amount of money is flowing into the market, but accordingly, the pump is not coming into the market, 400-500 million dollars are flowing into the market every day through EDF. My personal opinion is that this is a short term crisis and maybe we will see this crisis for the next month and there is a possibility of a solution to it within this month. Many are predicting that since there has been no red card in the current month, there may be a red card next month or the Federal Reserve may red card here in July. And if there is a peace agreement between the red card and America and Iran, then we can see that Bitcoin has gone above $120,000. Hopefully, the problems will be resolved within the next month and they will all reach a good decision that will be good for the whole world. Because war does not bring anything good for any country, I hope you all understand and always remember one thing that there is always instability in the crypto market, so if you want to make any decision here, first analyze it yourself and take steps according to your own risk. Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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Will the market keep going down?
Is a great post you have shared.