• The current crypto market is volatile with bitcoin and altcoins both experiencing ups and downs.
• The U.S. SEC has taken action to dampen the enthusiasm around cryptocurrency, leading to a period of uncertainty.
• Tuesday’s US CPI data could potentially decide which way the market will go in the short-term.
The Current Crypto Market
The violent ups and downs of the current crypto market can leave some investors feeling rather uneasy, but it may be worth it in the long run as bitcoin and other altcoins lay the solid foundations for future growth. The U.S. Securities Exchange Commission (SEC) is taking steps to curb crypto optimism, leaving markets in a state of flux. As Tuesday’s US Consumer Price Index (CPI) data looms, further volatility may be expected before traders know which direction prices will take in the near future.
A Sea of Uncertainty
At present, Bitcoin is sitting at roughly midpoint between $25,000 and $17,600 – should support weaken on this major cryptocurrency then altcoins are likely to suffer even greater losses than they already have since early 2021 when they peaked at a market capitalization of $390 billion (currently $351 billion). SEC Commissioner Hester Peirce has publicly expressed her dissent against recent SEC decisions through an official statement on their website – yet these actions remain effective in keeping crypto markets mired in an ocean of uncertainty for now.
Inflationary Data Could Be Decisive
Tuesday’s US CPI print could prove decisive regarding where the crypto ship will sail next – if higher than expected inflation figures arise then traders must prepare for turbulent seas ahead; however if lower levels are seen then calmer conditions might help Bitcoin sail upwards along with its fellow altcoins over time.
The Crypto Game
Cryptocurrency trading involves periods of calm and turbulence – while no one knows what lies at its final destination yet, investors must accept that choppy waters are part and parcel of this game: sideway movements and storms alike help shape this ever-changing landscape as innovation continues to drive forward market activity worldwide.
This article is provided for informational purposes only and should not be used or interpreted as legal, tax, investment or financial advice in any way whatsoever