Today is going to be a very good day for the crypto market or BTC will break below 60k and take a rest at the resistance of 58k but first let's see what is the news that can shake the crypto market.
By the way, some news is circulating every day, but the owner of Binance exchange may be jailed today and may be released, or the matter of imprisonment may be postponed for some time, so it will be known after a few hours.
It will happen that the owner of Binance, who has an important position in the crypto market under the name of #CZ, will be jailed or given freedom, but the way #CZ supported the crypto market after the accusations against him. Given that, I think that #CZ will be released today because he gave all kinds of support and if the credit of the bull run goes to anyone in the crypto market, I will give it to #CZ because #CZ contributed to the crypto market. Despite the difficulties, investors have seen a glimmer of hope and #CZ must get some discount today, but this is a case and its investigation will reveal everything to what extent #CZ will be punished or released. If met, this news can push the crypto market up or down.
As I said in my yesterday's article that the report of FOMC always affects the market and there are still 24 hours left for this report, so we will see pump and dump clearly in the market.
But one thing that new crypto traders always ask is that when the news moves the market up and down, then the capital of the investors will sink, but I will tell you one thing here that the investor never wants that If the capital sinks or loses, whenever the global situation is bad, investors try to save their capital and thus we see tension in the market,
but the successful trader is the one who takes into account the conditions and events. Invest your capital in the market. But if we look at the buying of Bitcoin, a lot of big people are buying BTC so no big investor will invest for loss so I think BTC is on a very bullish move for long term but short term. On term time, BTC and all altcoins are on bearish move, so we have to look at long term, short term has always seemed risky to me.
You all know that ETF of BTC has been approved in America in January and now there is talk of ETF of EThereum being approved but do you know that ETF of Ethereum has been approved in Hong Kong along with BTC and it is very big news.
if it is happening then I am predicting in advance that the Ethe ETF will be approved in the US like bitcoin, then when this ETF series will spread to other countries and thus the demand for BTC and Ethereum will increase and when the demand increases.
It is imperative that the price will also go up, so this is the reason why big traders and crypto names are buying BTC and Ethereum and in other ways, an atmosphere of fear has also been created in the market, so understand that BTC 100K The target is weighing on to achieve late 2024 or early 2025 so if you have invested in crypto and you are in loss then be patient and wait for the right time and get your profit.
I have told you that the speed with which ETFs of BTC and Ethereum are approved in different countries is an indication that the Crypto market can take its course towards the heights at any time.
One thing that the readers of my article are not understanding is how the market will go up after the ETF is approved. I will try to explain in a very simple way. At present, whatever cryptocurrency we buy, we either hold it in the wallet or hold it on the exchange, and to keep the wallet safe, we need to protect our capital by using its private keys or seed phrase or different security 2FA on the exchange. It is necessary so that a hacker does not steal our assets.
but after purchasing in ETF, we avoid such problems and we have to buy the value of BTC from a company at the market price and then when we want, we can sell it at a profit or at a loss and this is the reason that after the approval of ETF, all those people who are not trading in crypto yet they will invest in crypto.
I hope you got the point of importance of ETF. These are my own crypto experiences that I share with you all on hive blog and whenever you want to invest in crypto, do your own research first and then invest. Thank you very much for reading my article.
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