In his "Home on the Range" market review, Josh provides a careful outlook on the crypto market, recommending a patient approach amid current uncertainties.
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Although Q4 has historically been a strong period for crypto, this October hasn’t yet delivered, with early signs of slow movement. While the latter half of the month typically brings gains, traders remain cautious as the market faces macroeconomic headwinds.
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Josh also emphasizes the increasing regulatory pressures from the SEC, targeting significant players like Ripple and Cumberland for alleged unregistered securities violations. These actions have created more uncertainty, particularly as traders weigh the likelihood of further regulatory scrutiny, which could impact market stability.
Adding to this caution is the potential for up to $10 billion in Bitcoin to hit the market over the coming months, sourced from holdings tied to Mt. Gox, Silk Road, and other government-seized assets. If large portions are liquidated, this could place considerable selling pressure on Bitcoin, particularly in the current low-demand environment.
Overall, Josh advises traders to hold back on aggressive moves. With Bitcoin and altcoins trading within a wide, uncertain range, he suggests waiting for clearer directional signals, particularly from economic developments and the upcoming U.S. election, before making decisive trades.
