Five Key Aspects to Pay Attention To

Endy Callahan

Stocks might be one of the most essential aspects all participants should bear in mind. Also, we should always remember the greed factor and, which is of great importance, the crypto market points out the role of exuberance. If you wish to succeed and achieve your goals, there are several key aspects you have to pay attention to this week. Experts emphasize that there are five elements we must not ignore.

Professionals remind us that BTC price remains stable and now it is above nine thousand USD. At the same time, data keeps pointing to optimistic behavior which some find rather irrational.

The cryptocurrency starts the week by avoiding one more test of nine thousand USD. Now the question is if there is something that can change the mood or put off a bull run. Crypto market analysts are ready to share their opinions and show five key facts that will influence the crypto’s price in the nearest few days.

As we can see, the micro outlook looks stable. Before trading occurred, futures for several major exchanges were modestly up, even though some participants had concerns related to the pandemic. Bloomberg paid attention to the issues related to the sentiment. Many still feel worried about the spread of the virus across the country as well as the government’s response to protect the economy.

If politicians decide to intervene in equities and make changes to balance sheets that will significantly increase the sense of an artificial presence. Officials may state that the Fed hasn’t moved far enough. In many spheres, people are trying to find out if the valuation of the market matters as much as they thought.

The crypto does not demonstrate any signs of reducing its dependence on stocks in the past few weeks. BTC/USD performance looks different to the up and down moves.

Recovery and Further Prospects

The market witnessed that the crypto moved from nine thousand USD to nine thousand five hundred USD and then back down again. Analysts also note that the S&P 500 makes an impact on the trend – that’s one of the indices with which the crypto illustrates a ninety-five-percent correlation. Consumer confidence depends on the consequences of the coronavirus.

Refer to five indicators that have been flashing bearish this month after the country slightly recovered. Specialists also research and analyze the Crypto Fear & Greed Index and note that it remains in the ‘fear’ zone with an insignificant move for a few weeks. On the other hand, the traditional market equivalent is intensively ‘greedy’, and yet it seems to be moving towards more neutral.

Monday scored fifty-nine, and that is seven points down from the same period last month. The crypto equivalent showed forty-three for Monday and thirty-eight in June.

As professionals claim, stocks are overly buoyant. More than that, the correlation between S&P 500 and Nasdaq is greater and this is what specialists consider as an indicator of exuberance.

Market commentators are willingly sharing their views and predictions with participants trying to foresee what’s going to happen in the nearest few days. This week’s data proves that investors prefer cash and gold. As a result, inflows in these two assets are likely to beat all others since the beginning of this year, which reminds us of 2008 and 2009.

Luckily, BTC holders may feel relaxed since BTC fundamentals stay quite strong. There is a new difficulty adjustment and we see a difficulty uptick of approximately nine point five percent. Two weeks ago the move was weaker and that was rather stagnant. Difficulty demonstrates how much effort participants need to resolve equations while mining new crypto blocks.