How long will Crypto Winter last? |
| Published Dec 03 '22. Last edited Mar 15 '23 |
Uncertainty #bitcoin #cryptowinter #djia #cryptocurrency #coin #nasdaq #sp500 #uscpi
As of 20230113, tech stocks were the most beaten downed sector in bear market of last year, among tech stocks, #cryptocurrency and related stocks were the worst, now they are getting recovered driven by a tech sector short-squeeze which is driven by an upcoming Fed Funds rate pivot which is caused by the market belief that #USCPI has peaked. Broad market bottomed on 10/12/2012, #SP500 and #DJIA made a higher low in late December after early December peak, #NASDAQ revisited the October low in late December, but #CryptoCurrency and related stocks such as CoinDesk (#COIN) made a new low in late December and early January, since then broad market broke out to the upside, at the same time, money started to flow back in to #Bitcoin and #COIN which resulted in a sharp rally in both in last 5 days.
As of 20221206, Since peak of November 2021, #Bitcoin price dropped from $69000 to $16800 in early December 2022, this is #CryptoWinter. Will "Crypto Spring" come? If so, when?
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