Hi guys, hope you are all doing well.
From my last post, it was clear to me that we should consider the impacts of news in the crypto market. Today when I was simply seeing the Bitcoin chart in Tradeview, i found some red flags down right side.
Screenshot from my phone
It intrigued me to click on them only to find out they are some news which could show some effect on the market condition of that certain pair. When I clicked on the first flag, it shown me the inflation rate and core inflation rate for 14th March, 2023 with previous and forecast data. The previous data indicates 6.4, where as the forecast data shown as 6. The points were decreased by 0.4, which is a good thing considering the inflation rate should be decreased I think. Based on the forecast of this flag i came to a conclusion that the market will be on uptrend on 14th March, 2023 for some time. During this time the market would be more volatile than it can be.
Inflation simply refers to as the increase of the prices for the goods and services.
Where as the core inflation concept is also as same as the inflation except for food and energy sectors.
There will also be so many factors that can be responsible for the market like fear and greedy index etc.,
Disclaimer:- This article is neither a financial advice nor I'm a financial advisor. These are just my thoughts. Do your own research before investing into a crypto currency.