Crypto Pull Back..... Should You Buy this Dip at the Moment?

Crypto Pull Back..... Should You Buy this Dip at the Moment?

By Cje95 | Chronic Illness and Crypto | 7 Dec 2021


When the market first pulled back last week it was an easy call to blame it on the newest COVID variant that had been detected, omicron. The last time the World Health Organization had raised the alarm as they did with this variant we had Delta and the huge issues that it initially and continues to cause across the globe. However, not a ton is known about this variant and we are constantly learning about what to expect from it. All of that being said with this Crypto pullback is it time to buy again?

 

This pullback caught a ton of people by surprise but it really showed one very very important fact. Crypto is still considered by the big institutional investors as a risky asset so when the market becomes uncertain or worried it will suffer with the rest of the risky assets. From what I have both read and heard it seems a lot of people had figured that Bitcoin and Ethereum among others had shaken off the risky aspect but this showed that that was not the case. Especially during a pandemic news about COVID can quickly change the markets.

 

Stock markets, with the hours that they have, are able to better handle this news as a rule because if it happens after hours people can digest and understand what has been announced. Crypto being open 24/7 365 days a year will immediately react to any news both negative and positive. An important thing to realize is this latest variant is not going to be the last of COVID. With the way that the virus mutates it is only a matter of time before another one will come along and catch people off-guard. This is what appears to have happened here as people seemed to have thought that there wasn't going to be a new COVID variant that spread as wide and as quickly as Omicron did but it happened and the market reacted severely.

 

I would not expect this to change too much over the next few months. There are two factors that I feel will cause future turbulence and that is in the US we are hitting cold and flu season which I am sure is going to cause scares with similar symptoms to COVID. You also have increased travel which means that when a new variant pops up it can rapidly spread like what we have now seen with Omicron. Riskier assets in situations like this tend to have a bumpy ride and so I would expect the same from Bitcoin. That being said I have begun to slowly actually purchase some Bitcoin as compared to just stacking Sats as I had been.

 

I personally do not see Bitcoin breaking out above $52,000 so it is really on the high side of my range right now as it is. I expect it to stick around the mid to high $40,000 range through the end of the year unless something big happens either politically or healthwise. This would naturally change everything.

 

Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it!

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Cje95
Cje95

Graduated from Texas A&M in May of 2020 had dabbled in crypto since 2017 but dove in at the end of 2019. December of 2020 packed up and moved to D.C.! Huge sports fan, space nerd, and international newsreader! Follow me on Twitter @Cje95_


Chronic Illness and Crypto
Chronic Illness and Crypto

Cryptocurrency and Blockchain are going to be a huge part of the future and no matter who tries it isn't going to be stopped! Here I try to give my best insight and thoughts into the latest crypto news, features, developments. Further, I look to discover any link to news from the United States ranging from social-political issues to stock market and economic data.

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