Skip to content

Crypto Support Structures Highlighted by Specialist Oliver Michel in Discussion on Bitcoin and Alternative Coins

Cryptocurrencies Fall: Specialist Oliver Michel Discusses Crucial Support Levels Influencing Bullish or Bearish Market Trends

Crypto analyst Oliver Michel discusses essential supports for Bitcoin and various altcoins
Crypto analyst Oliver Michel discusses essential supports for Bitcoin and various altcoins

Crypto Support Structures Highlighted by Specialist Oliver Michel in Discussion on Bitcoin and Alternative Coins

In the ever-evolving world of finance, the political stage is adding a layer of uncertainty, particularly with the power struggle over the Federal Reserve and the controversial dismissal of Lisa Cook. This power struggle could potentially shape the monetary policy decisions, including interest rates, in the coming months.

If the predictions hold true, and Donald Trump were to secure a majority on the Federal Open Market Committee (FOMC) Board, substantial interest rate cuts could be on the horizon. This could have far-reaching implications for the global economy, including the stock market and cryptocurrencies.

Despite the uncertainties, the stock market is thriving. Last week, the S&P 500 marked a new all-time high, while both NASDAQ and Dow Jones continued to gain. This bullish trend could be a sign of a robust economy or a bubble waiting to burst.

The crypto market, however, has seen a downturn. Bitcoin significantly declined from its all-time high on August 14th, with prices dropping to around $107,500 at times. This decline has raised concerns among investors, but crypto experts like Oliver Michel from tokentus Investment AG are analyzing which support zones are crucial for Bitcoin now.

Interestingly, Bitcoin dominance could be key to the entire crypto market. When Bitcoin's dominance increases, it often indicates a period of consolidation or bear market for altcoins. On the other hand, a decrease in Bitcoin's dominance could signal a bull market for altcoins.

Despite the bearish sentiment in Bitcoin, opportunities are presenting themselves in other cryptocurrencies. According to Oliver Michel, there are promising prospects in Ethereum, XRP, and Solana.

In other news, Mr. Bernd Förtsch, the board and majority shareholder of the publisher Boersenmedien AG, has positions in Bitcoin, Ethereum, and tokentus Investment AG. However, there is no publicly available information regarding his positions in the financial instruments Bitcoin and Ethereum.

The full interview with Oliver Michel discusses the importance of keeping one's nerves now, the significance of alarm signals, and the potential benefits these positions could potentially gain from the price development resulting from the publication.

As we move into the traditionally weak September, the question remains: will the market continue its bullish trend or will we see a correction? Only time will tell. However, one thing is certain: the financial landscape is dynamic, and opportunities will continue to present themselves for those who can navigate the uncertainties.

Read also: