Interpretation of cryptocurrency market on Nov 10 2022
Looking at the FTX event, it's just short of actually taking that step to bankruptcy. But further plunges in the early morning have already been priced in advance. Even if it happens, the drop has been mostly cashed out. Even if there is still potential risk in the market, it is no longer significant.
BTC's daily BIAS is already close to -20%. Combined with the Institute's indicator statistics video not long ago. Daily BIAS is less than -15% for the bottom in BTC. The probability of making a profit after 20 days is already more than 60%.
On top of that, US stocks, which have been closely linked to crypto, have not fallen through their previous lows. Even many quality varieties in the crypto market have not lost through the last low in the current round of impact species. There is still a long way to go for the industry to improve, but events always move in a good direction.
BTC's daily BIAS is already close to -20%. Combined with the Institute's indicator statistics video not long ago. Daily BIAS is less than -15% for the bottom in BTC. The probability of making a profit after 20 days is already more than 60%.
On top of that, US stocks, which have been closely linked to crypto, have not fallen through their previous lows. Even many quality varieties in the crypto market have not lost through the last low in the current round of impact species. There is still a long way to go for the industry to improve, but events always move in a good direction.
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