How are you all? Of course everyone is fine. Today I’m going to talk about the recent volatility in the cryptocurrency market, especially the impact of the Bitcoin crash — and how it has directly impacted the price of Stellar (XLM).
Bitcoin prices have been steadily falling for the past few days, and this is affecting the entire market. It was around this time that the Stellar network completed their protocol 23 upgrade, which was actually a pretty significant development. But unfortunately, the market’s attention is elsewhere now — because everyone is now looking at the Bitcoin price crash.
Market volatility due to Bitcoin’s crash
The price of Bitcoin has currently dropped below $105,000, causing a kind of panic across the market. This crash alone has resulted in over $1 billion in liquidations across various cryptocurrencies.
Several large investors have been forced to sell their positions, and that has changed the course of the entire market.
On the other hand, xlm was not spared from this sell-off — its price has now fallen to around $0.31, and many analysts believe that the $0.30 support level is now very important.
Stellar’s protocol 23 upgrade – positive aspects
Despite the market decline, Stellar’s technical upgrades are no less important.
The new protocol 23 upgrade has added more efficiency and security to the network. In addition, Stellar’s $460 million partnership with Archax was expected to bring big changes to the entire ecosystem.
However, the problem is — the market mood is now so negative that even this good news is not getting the attention of investors.
Investor sentiment
The current market can be described in one word — “cautious but opportunistic”.
Many still believe that Bitcoin’s decline is temporary.
When the price stabilizes, new investment flows will begin in altcoins (such as xlm, sol, trx, etc.).
Personally, I think this is not the time to panic — rather, for those who believe in long-term investment, this time can be an opportunity for “value buying.
The market is always full of ups and downs. Bitcoin is down today, tomorrow it may rise again.
Projects like stellar will survive on their core technical advancements — although there will be temporary price pressure.
Personally, I believe that situations like this teach us how to analyze the market with a cool head.
The most important thing now is to make decisions based on data and logic, without panicking.
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