Hello Bloggers, In this Blog i'm going to explain you how to analyse the crypto markets.
Without Much Bla bla let's Get into the Content Dirrectly.
The primary driver of all markets : Dollar Index (DXY)
The Dollar index is the primary fundamental driver that moves all asset classes such as
i) Stocks
ii) Bonds
iii) Crypto
iv) Currencies
v) Commodities.
These Major Markets are interlinked with each other. Unlocking the Dollar Index will open the doors of all major markets.
Now you have learnt that Dollar Index Moves all major markets. Now There is another realation in the crypto market.
Majority of the time every altcoin follows what bitcoin is doing.
Have you noticed that if in a particular day Bitcoin dropped then the whole crypto market would be in red?
If bitcoin drops then every crypto drops and vice versa.
So in plain English, Knowing how to analyse DXY will help you make decision on when to buy crypto. (including altcoins).
But what drives the DXY ?
It is the interest rates along with some technicals which drives it.
This is my analysis of DXY that it is going to rally which means the crypto Markets will fall.
I concluded DXY to rally few months ago and i have posted a detailed article regarding this in my LinkedIn feed also.
By doing Intermarket analysis with Bonds , Stocks and Commodities I got an understanding of DXY which made me wait a few more months before buying Crypto.
As you people now know that you can buy crypto at a much cheaper price if you waited a few months.
I will share more insights in the upcomming arcticles. If you gained some valuable information.
Support my content through an upvote. feel Free to share your opinion about this in the comments below. Share it with a friend who loves crypto.
Credits to @iamjabez for helping me post this article by sharing his hive power.