One bear case and one bull case. Looking at past RSI and MACD trends, it could go either way.
If I were to guess, I think we go lower since our "highs" are lower and less volume.
Possible Reasons:
1. People have less money to buy crypto with. Perhaps because Yield Farming and NFT removes short term liquidity from the markets?
2. Global uncertainty about business expenses
3. SPY and QQQ may offer better returns with less risk
4. People are greedy and are willing to buy BTC and ETH for cheaper than it is now
If I were to guess, I think we go lower since our "highs" are lower and less volume.
Possible Reasons:
1. People have less money to buy crypto with. Perhaps because Yield Farming and NFT removes short term liquidity from the markets?
2. Global uncertainty about business expenses
3. SPY and QQQ may offer better returns with less risk
4. People are greedy and are willing to buy BTC and ETH for cheaper than it is now