Why is the market dumping so much right now?
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. If you have a little knowledge about technical things, you will understand that when the bull rally starts in the market around 2021, that is, we can see a large level of pump in the Altcoins, at that time, naturally there is a huge downfall in the dominance of Bitcoin, but before that, Bitcoin dominance went up to 64% and as a result of Bitcoin's dominance pumping up to 64%, the Altcoins went down a lot.
So this time the same thing is happening again, we are seeing a constant pump in Bitcoin dominance and you can see here that it has currently gone up to 65% and if it keeps going up like this, we might see Bitcoin dominance go above 70 percent in a few days. So I hope you understand that until there is a huge dump in Bitcoin dominance, we will never see a big pump in the market. Now it all depends on the market makers that how far they take Bitcoin dominance, Altcoins have almost disappeared from the market, then if Bitcoin dominance goes above 70 percent from here again, you can understand that and there will be a big collapse in the market. But I am saying again that the bullrun in the crypto market will come at a time when I will never be able to think about it, so without thinking about it, we have to think now how we can survive in the crypto market. You see, the bullrun can come at any time, it can be this year or next year, but you have to keep the target so that you can survive in the crypto market until the bullrun comes. Because when there is a huge dump in Bitcoin dominance, you cannot even imagine that Altcoins can pump so much.
I will discuss the market situation a little more, the reason behind the current crypto market dump is the Iran-Israel war. I hope you all know about this. We have not seen such a big war in the last few years, even people thought that the war between Iran and Israel was the beginning of World War III. That is, you can understand that this is a very big problem, and you all have seen that when there is a problem between Israel and Iran, we can see the impact of it in places like the crypto market, stock market, forex. That is, due to this war in the global financial markets, we see a lot of bad effects in the market. I hope you understand why the market is currently dumping so much, remember that there is always instability in the crypto market, so before making any decision here, do your own analysis and take action 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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Regards,
@adeljose