Whats is going on with the crypto market?
I have seen all around social media that cryptocurrency have crashed or are going to stay in a downtrend. Let me explain my theory of whats going on with the market at the moment and It may relax many people
The following chart will show 1 year of bitcoin price. In this graph I'm specifically focusing before bitcoin took its bull run roughly on November 20 th. Bitcoin price was roughly $8,000 USD.
Everybody thats following the crypto market we know that the highest USD price bitcoin reached was $19,000-$20,000 and everybody was supper excited and wanted to buy more and more since we saw it "Moon" like the crypto community named it but theres a downside to this huge growth like this isn't really common but its amazing when we see this because it mean huge return for investor but with this being said huge growth like this is always destine to have a huge downfall. Specially with crypto since Bitcoin does control the majority of the market if bitcoin goes down alt follow and we have see this occur before and since the year started.
This last image demonstrated were bitcoin price is at right now of me writing this post, which is at roughly $7,505 USD. With this being said do people notice the market correction that is occurring? Everybody that was able to sell when bitcoin reached its all time high are really enjoying that decision while the once that didn't have to HOLD until we see bitcoin scale back up,which will surely happen.
Dismclamer: Always invest what you can lose and this is my own opinion of the market!
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