Amid rising geopolitical tensions, especially between Russia and Iran, the cryptocurrency market faces new challenges.
When Do Cryptocurrencies Typically Drop?
In 2021, certain patterns suggested that Bitcoin prices rose on full moon days. However, such data cannot be considered conclusive as they often coincidentally align. For instance, the unexpected 2022 market, which refuted assumptions about price support after FTX's bankruptcy, clearly demonstrates that the unique circumstances of a given day can lead to varying market outcomes. Currently, discussions focus on the timeframes when cryptocurrencies generally drop or rise. According to UTC, significant trends are observed around 09:00, 17:00, and 21:00.
Volatility of Solana (SOL): Realistic Price Targets
Trader TraderSZ predicts that a move above $195 in SOL could spark a rally to $512. He suggested that short-term traders distracted by constant buying and selling may miss the peak.
Conclusions on the State of the Crypto Market
Regardless of the data, cryptocurrency volatility spikes post US market openings and closes. Bitcoin's daily candle closures and the subsequent Asian market openings often see intensified movements both upwards and downwards. Historical data during Fed decision weeks also confirms increased volatility.
Geopolitical factors continue to impact the cryptocurrency market, creating instability and highlighting the importance of analyzing time periods for trading strategies.
