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- Bulls have dominated the crypto market in the past few days.
- The US trade deficit decreased by 21 percent.
- Fed rate has been a key factor in increasing interest rates.
The crypto currency market has shown its enormous strength in the economy despite being in the red for several months. In recent days, bulls have dominated the cryptocurrency market, pushing prices steadily upward.
According to a post that was made by CryptoNewsLand on its Twitter account not too long ago, the majority of people are wondering if the bear market is over or if the price of cryptocurrencies will see a price dip in the coming days and experience new price lows.
However this is not the first bear market that crypto market is experiencing that has lasted for a month or so. In the year 2014 the crypto market experienced a bear market which lasted for about 400 days followed by the year 2018 where the bears controlled the crypto market in the almost a year and the year 2022 in which the the bearish sentiment has lasted for little over 1 year.
According to a recent post on Reddit, numerous factors affect the price of crypto market one of them being the Fed rate which has been a key factor in increasing interest rates, which is good news for savers, but bad news for the stock market. As well as problematic for many areas, like mortgage rates.
In the year 2020, supply shortages affected 28% of shops, therefore the supply chain also plays a role. There is still a problem with the supply chain. Still, there are gaps and slowdowns. There may have been an increase in bankruptcies as a result. The economy is improving and some areas are recovering faster than others, but not everywhere is doing well. The US trade deficit decreased by 21% in November, per data from the Commerce Department.
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