Where does the crypto market go from here?
In today's article, I'm going to discuss with you my readers where the cryptocurrency market goes from this current moment. As we all know the cryptocurrency market has dumped significantly over the last month. I cover why in my previous article so click the link and read the article to learn more about why the market crashed. But before we get any further I just want to state that none of this is financial advice and that it's just my thoughts and opinion. So with that being stated let's get into today's article.
Another potential dump
Since the end of the dump, we have been trading sideways with bitcoin (Which indicates where the crypto market is moving) leaving many to believe we are seeing the end of the bear run. However, I would like to state that it is still in the range of possibilities that we might see another dump. How big of a dump I'm not one hundred percent sure to be quite honest. However, It's possible and this is the possibility I'm betting on the most happening is we come down and test the 24k-25k resistance point. So prepare for another sell-off to come within the next couple of days or weeks.
After this dump, the next significant event to come to crypto to move the market is the Ethereum merge. Ethereum's Vitalik Buterin says it's highly likely that the merge comes in august. This leaves plenty of room for the dump to happen I wrote about earlier. However, this merge isn't one hundred percent confirmed yet as it's been pushed back before. If this does happen we could expect some more selling off to happen. However, I doubt this will happen which leads us into the next sub-topic.
The outcome of The Ethereum merge
Once the Ethereum merge happens one of two things will happen to the cryptocurrency market. Once the market either crashes or two we enter another bull run. Now let me explain one real quick why this could happen. So to start if the merge doesn't work as intended and doesn't come out smoothly then we could see more sell-off, and the reason we could see that is now retail is losing hope in the market. If the Ethereum merge doesn't work as intended or planned retail is likely to lose faith in the majority of the crypto market. I doubt that this will be the case though. It's likely the merge will roll out smoothly and work as intended. This will bring back public confidence in the market especially amongst retail investors causing yet another bull run.
My Final Words
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