The Labor Data
The statistics for US jobs were posted, which is a mixed bag. In July of this year, half a million positions were created, signaling that growth is still strong. September jobs growth cooled off, but the unemployment rate dropped, causing the Federal Reserve (FED) to likely raise interest rates by 0.75 percentage points next month. Last month posted 263,000 positions, which was fewer than the 315,000 that were posted in August.
Despite the slowing, this reduction in unemployment will push the FED to tighten again.
Bitcoin
With Bitcoin still ranging with a bottom price of around $18,000 since June, the FED interest rate hike is causing the dollar to gain significant value Vs. other currencies have still not managed to push Bitcoin under the $17,700 low.
This suppressed price action while still maintaining support will likely mean this is the true bottom of the crypto market, or for Bitcoin at least.
Polkadot
With DOT sitting at just above the 2020 price range for over 3 months now and a lack of push down below despite endless negative news, the analysis would suggest that the bottom is truly in for Polkadot and a return to previous resistance levels of $8.80 and $11.05 would be on the cards.
Oryen Network
Oryen Network, a new protocol launching on Binance Smart Chain, has been included in this list with the ‘old guard’ of crypto for balance.
Oryen has seen a large influx of investors into their presale phase one despite the continual negative financial outlook and suppressed price action from the general market. This is likely due to the team’s strong tokenomics and action plan.
The approachability of the product is causing big money to flow into the protocol at astonishing rates.
Oryen’s main innovation is simple yet stunningly effective: the Oryen Autostaking Technic (OAT) offers all holders an hourly recompense in rebase rewards simply for having the token present in their wallets. This system side-steps all of the complexity of farming and staking, making it an easy choice for those new to the crypto scene (not to mention those who simply don’t have time and enjoy easy wealth!). As the market struggles, this will likely attract many investors seeking a new place to park assets.
Conclusion
The bottom is likely in for most crypto at this point. Getting in on super low market cap launches at the bottom of the bear market will likely cause the biggest gains for those daring to succeed.
Learn More About Oryen Network Here:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
Telegram: https://t.me/OryenNetwork
Discord: https://discord.com/invite/jSvaXmb2cB
Twitter: https://twitter.com/oryennetwork
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
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