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With Bond Markets Closed For Veteran’s Day, Can Crypto Entice Investors Today?

With Bond Markets Closed For Veteran's Day, Can Crypto Entice Investors Today?
With Bond Markets Closed For Veteran's Day, Can Crypto Entice Investors Today?

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America celebrates Veterans Day, and the bond markets are celebrating a three-day weekend starting Friday. Historically, bond markets have continued the tradition of celebrating national holidays from New Year’s Eve to Christmas day. However, the same doesn’t go for the stock markets, as they are open for a full day of trading. That said, even stock markets aren’t apprehensive about celebrating national holidays, which leaves investors with one market that is always open, always trading, and always active – the crypto markets. 

But after a turbulent start of this week, with Bitcoin plunging to its two-year lows and the markets going haywire, can crypto entice investors today?

The Compound Effect of This Week’s Events on Bitcoin Price

The Bitcoin price was hit by a compounding impact of multiple factors this week. After giving people hope that it might have found support above $21k, CZ Binance vs. FTX battle ensued. The resultant panic triggered an aggressive sell-off, and within a day, Bitcoin dipped lower than its June lows. 

Bitcoin Price on Veteran's Day

Then the US-midterm elections started. The tug of war between democrats and republicans led to speculations high, with many fearing that Dems will repeat the feat of the 2020 elections. It triggered another sell-off, pushing the value of Bitcoin below $16k. 

Thankfully, the bulls successfully created a bounce after the CPI data showed a lower-than-expected rate increase – Bitcoin reached $18k resistance. However, the price dropped after Binance backed out from bailing out FTX. 

 As a result of this rollercoaster of emotions, Bitcoin is currently trading at just below $17k. The hourly chart shows that the bulls are trying to create new support by reaching $17k. It is slowly becoming a possibility since the Fibonacci retracement chart shows an intraday uptrend forming, with a $16.9k support getting closer. From this point, it will move up to test $17,070 (0.382 fibs). This uptrend was foreseen since the RSI indicators show that Bitcoin is just 10 points above the oversold zone. 

Has Bitcoin hit Bottom? Crypto Influencer Says No

Do the current massive downtrends mean that Bitcoin has hit bottom? Experts say no. 

Rekt Capital, a crypto influencer on Twitter with over 329k followers, says better days are coming. “A BTC Bull market will take place one day, but today is not that day”, says the influencer.

Pointing at the people’s complacency who are hoping the current price to be at the bottom, Rekt Capital says, “People think BTC will never see another -80% bear market because it is now too mainstream and too mature,”, he continues, “let us not forget there was a -53% correction just months ago. The average bear market is 84.5% deep.”

Note that Bitcoin’s value has fallen by 78% since last October, which signals that the bottom is closer than you think. However, Rekt puts it that Bitcoin is due to drop to $11k, which means Bitcoin may plunge another 35% of its today’s price to hit its bottom.

Presale Cryptos are the Only Safe Bets Right Now

Bitcoin’s bearish sentiment can be seen on Ethereum and other altcoins. Ethereum is accumulating just above $1.2k. Solana has dipped from $35 to $15 in a week, and FTT is on the verge of collapsing, barely holding on to its $2 support. Safety in crypto markets is nowhere to be found at this moment. 

So, what is the solution?

Presale cryptos. They allow you to move in early, yield gains from price appreciation that come with later presale stages and provide better utilities. Dash 2 Trade, for instance, is a presale crypto that’s trying to make the crypto markets more analyzable with a variety of tools. 

Dash 2 Trade is in the third stage of its presale and is offered at a discount price of $0.0513. This asset has raised more than $6 million and is quickly selling out. You better check it out before the cost of D2T increases to $0.0533. 

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