After a brutal dip that threw the crypto market sentiment back towards the extreme fear dial on the Crypto Fear and Greed Index, and lots of panic selling, the crypto market is showing steady strength as crypto prices swing back towards a speedy recovery.
Crypto Market’s Speedy Recovery
Yesterday the price of Bitcoin (BTC) dipped below $50,000 but is now already at $55,696 according to CoinMarketCap analytics. As to why the crash occurred, despite the many factors that contributed towards the crash, top analysts mark US money printing as a leading cause.
As we can see from the post above, the popular Doctor Profit, known for his many accurate crypto market predictions mentions money printing being a major cause of financial market fluctuations. Many financial experts like Robert Kiyosaki and Charles Hoskinson have made similar statements.
The End of the Fiat Money Printing Era
They said money printing may have delayed the inevitable fall of traditional markets but price manipulations like that can no longer affect the crypto market in the long term and this is why crypto is the answer to true financial freedom.
Meanwhile, Doctor Profit encourages traders not to give into FUD. Instead, he reminds them of the big picture for the future of Bitcoin (BTC). This asset is digital gold, it will continue to set magnificent new ATHs every cycle, and finding the opportunity to buy at low prices should be seen as a gift.
He also goes on to draw a parallel in crypto prices. He highlights how three years ago the price of Bitcoin (BTC) was at $55,000 and markets were in extreme greed mode. Presently, the price of Bitcoin is at $55,000 and the markets are in extreme fear.
Ultimately, he says money printing is over instead Bitcoin and cryptos will become money printing machines if one is brave enough to take the leap. He encourages traders to make moves logically and not based on fleeting market moments.
