There were several reasons for the surge in the crypto market:
- Increasing number of global investors
- Japan's announcement of making Bitcoin a legal tender
- Bitcoin Futures announcement by Cboe Global Markets and many more
The recent graph shows a different picture of the cypro market and here are some reasons:
- Most of the investors made their investments without learning about blockchain technology just to make some quick money. (most of them successfully did so)
- The government of certain countries, mainly: China, South Korea and India are continuously putting statements against crypto-currencies.
- Let's consider the Chinese New Year as well
Considering the design of crypto-currencies lets call it a digital-phoenix and here is what we should do now:
1. Use the mantra of Rothschild : Buy when there is blood in the streets
2. HODL
3. Wait till other countries follow the Japs
4. HODL till more use cases occur globally and SPEND wisely
Image credits: Screenshot from Coinmarketcap
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