The fact that inflation and interest rates are still high around the world prevents investors from investing in cryptocurrencies and similar risky assets, therefore the low interest in risky assets prevents them from rising. Even though many cryptocurrencies, especially Bitcoin, show a downward trend, they do not lose their desire to rise.
Bitcoin (BTC) is currently trading at $61,064. Although many investors expect Bitcoin to fall further, Bitcoin manages to stay above $60,000, which shows that investments in Bitcoin are still continuing. While retail investors are selling, institutional investors continue to buy, the data shows. They continue to invest small but steadily, not only in Bitcoin but also in other cryptos.
Even though Bitcoin is in a downward trend and has an unstable chart, investors continue to accumulate altcoins.
BNB is currently trading at $592.
Hive is currently trading at $0.345.
It cannot be denied that there is serious selling pressure in the crypto markets, but on the other hand, it is clearly seen that there are high amounts of investments. Especially on the Hive chart, it is clearly seen that serious investments have been made in the last 24 hours, but selling pressure prevents it from moving higher. Even if the sell-off prevents it from moving higher, it clearly seems that it has a huge uptrend potential in the future.
I expect inflation to fall dramatically starting from the second half of the year, and then I think a recession will begin, especially towards the end of the year, which will lead to a rapid decline in global markets. While these are happening, I think investments in cryptos will increase significantly. I expect a stronger rally, especially in the 4th quarter of 2024, and I even expect the rally to be more severe than previous ones. That's why I remain optimistic and bullish on cryptos.
Thank you for reading
This is not investment advice,I am just talking about current developments and only my personal opinions. As with all money markets, anything can happen in the crypto market at any time, so please do your own research before investing.