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Crypto in Trump Effect
The crypto market was heavily influenced by the coin release by Mt. Gox and the selling pressure created by the German government. While these two reasons were driving the market to lower channels, the betterment of economic data in the U.S. turned the sentiment into bullish once again.
As a consequence of better data and the increasing possibility of Donald Trump's being the president of the U.S. for the second time, the market started to buy the rumor already.
The strong sentiment triggered the greed once again. Since the expectation of the spot Ethereum ETFs also influences the positive atmosphere in the market, the negative sides are being neglected by the investors.
As a result, shorts got liquidated in centralized exchanges.
When the shorts are liquidated, they turn into the fuel for the continuum of higher prices. So, when the news that Tether has printed $1B stablecoin on demand, there is still some room for further price actions.
Though most of the investors only focus on what happens in crypto, we need to remember the fact that the stock exchanges were breaking All Time High levels whereas Bitcoin and other cryptocurrencies were forming lower lows over the last four weeks.
The short and mid term in this market is always volatile by nature. However, nobody has any doubt about the potential of blockchain technology and crypto integration to our lives.
The centralized exchanges and several VC-backed projects are taking firm steps to rely on the regulations, establish partnerships, and find a solution to an existing problem. Just recently, Kraken teamed up with Atletico Madrid and a new member of fan tokens has joined us. The premium experience with fan tokens has been underestimated but the paradigm is slowly shifting already!
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