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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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【Trend of the Madman】Before Trump took office, the cryptocurrency market was difficult to have a big dump.
The madman says...
The CPI data in the United States this week is the last important data before the transfer of power, which is the same as the employment figures previously announced by the Labor Department. Biden is probably going to hand in a satisfactory answer to demonstrate the "success" during his term. According to this logic, the CPI data should be lower than expected or in line with expectations, so it will not have an impact on the market. Of course, if the data is embarrassing, then the previous logic will not hold true.
On January 20th, when Trump took office, there will be a lot of priorities to deal with, making it difficult to anticipate a rapid positive impact on the cryptocurrency market. If the positive impact is not as expected, the market will become volatile and the probability of a downward correction will increase.
In summary, before Trump came, the market was unlikely to see a big drop. On the contrary, once he came, if he did not immediately give the cryptocurrency market a tranquilizer, the funds that were expected to buy at high levels would panic, possibly causing a market adjustment in late January. The situation is dynamic, but the key points in the past two weeks are the performance of the CPI data and the landing situation of cryptocurrencies after President Biden took office.
Disclaimer: The article represents the author's personal views and opinions, not the views and positions of Block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and Block will not be held responsible for any direct or indirect losses incurred by investors in their transactions.
"Madman's View on Trends: Cryptocurrency Market Hardly Falls Before Trump Takes Office". This article was first published in Blocklike.