![bear_market_800x533.jpg](https://images.ecency.com/DQmaxDqizz1TLd3paQ2QKcAeAVVqaV81Phf58i5iKSKmRCQ/bear_market_800x533.jpg)
[Source](https://www.mobiuscapitalpartners.com/bear-markets-what-can-we-learn-from-history/)



Both Crypto and U.S Stock Market have been down and is still going down since after the Federal Reserve on the 27th of December FOMC meeting hinted that we could see the interest rate increase this year around mid March, and also [Fed](https://decrypt.co/89833/bitcoin-ethereum-stock-prices-fall-fed-readies-interest-rate-hike) Is going to stop printing money and make it more expensive to borrow in order to steady the economy and keep rising inflation in check.

![image.png](https://images.ecency.com/DQmchFaPNpahp7JZuZ2mMuzwvskmf4TTXuTVAWKGBxMnyfA/image.png)
[TradingView](https://www.tradingview.com/x/3TwppWS5)


Which is really affecting the market currently as the market keeps on dipping like to not going to stop anything time soon, since the 27th of December till date the price of Bitcoin has fallen from $52,000 to $42,330, it has dropped 18.4% which is a huge drop if I must say because I honestly was expecting the price of bitcoin to be head of $100k by now, but I have to face the reality that price might even go as low as $29k if this dip continues.

$29k is going to be very possible if we close below 41k with momentum, but considering the current consolidation happening right now around the support zone at $42k.

BTC is expected to retrace back to 45k minor resistance, but the structure of the current consolidation doesn't look good enough. Which means I'm not going to buy any new coin for now until I see a clear signal.

![image.png](https://images.ecency.com/DQmSBPvvaauWKjnKxXKKVHxNF14qr5cQ4QfnVWG278o4ScD/image.png)
[TradingView](https://www.tradingview.com/x/zXvRSe0x)


Despite the fact that the price of Bitcoin market cap dominance (BTC.D) has dropped 37% which is the lowest it has reached since 2018, that was supposed to mean that price is supposed to be skyrocketing but not this time because the FED FOMC meeting news has the market down. 

**What are your plans for the current dip in the market?**

<center> ***Thanks for reading guys*** </center>





Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@onwugbenuvictor/what-do-you-think-about-the-reason-why-crypto-and-stock-are-down)