Bittime - Daniel Yan, founder of Kryptanium Capital, recently spoke about the future and current state of the cryptocurrency market. Check out the explanation below!
Market Expectations Until May 15
Yan expects the market to remain calm until May 15, when US Consumer Price Index (CPI) data sets the trend for the second half. Solana also said that Memecoin and AI are options for catch-up trading, predicting both will beat Bitcoin in May.
Yan said he looked at macro data and the Federal Open Market Committee (FOMC) meeting closely before providing his detailed analysis.
Check Today's Crypto Market:
Causes of Market Decline in April
According to Yan, two main factors contributed to the decline in Bitcoin (BTC) and Ethereum (ETH) prices, as well as additional factors contributed to the large-scale decline in altcoin prices.
First and foremost, macro markets are negatively positioned by persistent inflation and high employment rates in the United States. This resulted in the sale of US debt securities which are highly sensitive to crypto assets.
Second, BTC ETF flows changed in April. With lower price sensitivity and a tendency to invest continuously, the market expects that ETFs will behave similarly to stocks.
How to Buy Crypto:
Analysis of Altcoins
AThe analyst stated that the intense unlocking program in May and the decline in altcoin liquidity led to an unexpected decline in the altcoin market since 2022. Yan believes the decline in BTC and ETH is natural.
But the decline for altcoins is too big. He explained that a 15 percent drop in BTC is healthy when the bull market gets too strong, but a 30 to 50 percent drop in a top altcoin might be too much.
Check Crypto Prices Today:
Positive News and Hope for the Market
Despite recent improvements, Yan provided positive news from last week. QT reduction of 35 billion per month and dovish FOMC statement from Powell are also considered positive signs. The US Treasury Department also initiated its first bond buyback since 2002.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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