In an interview with CryptoTVplus on the Inside Blockchain Show, Dr. Ibubeleye MacDonald, CEO/founder D-Online Harvest Academy speaking on the Future of the Crypto Bear Market, said the only reason Bitcoin is still holding its position is that Institutions are still protecting their entry prices. She explained saying many institutions got into the market recently, and the institutions have to protect their entry prices. “If we lose the $17,000 we are going to $14,000 and $10,000 range,” she mentioned.
She established that once the institutions stop protecting their entry price and decide to let go and buy lower, Bitcoin will see a massive crash. Crypto bear season is characterized by a low interest in purchasing crypto assets, resulting in low demands and low prices. As a result, the market trend often goes in lower lows and lower highs.
What pushes the crypto market
According to Dr. Ibubeleye, there are different indices used in checking where the market is headed; technical, fundamental, and sentimental analysis. “What pushes the market is Fundamental and Technical analysis,” she said.
Fundamental analysis is like macroeconomics, things in the economy, stock or in the US that make the market go up just like economic reforms, interest rates, and the rest of them, and those are the macroeconomics, she explained.
Also, the technical aspect is looking at the chart to check where the price is headed based on the emotions of traders, then what happens is that fundamentals and technicals work together. She went on to say that fundamental analysis just makes it faster, you may push the price to where you can buy or sell. “If the fundamental is saying buy, the technical will show you where you can buy from, if it is saying sell, the technical will show you where to sell from.”
The CEO mentioned that the major problem in the crypto market is the lack of uneducated traders. Volatility is part of what makes us money, the money is in the volatility, she said.
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