The crypto market is looking a little greenie right now as we are seeing some pump recently, we just saw the market move from $800 Billion to over $900 billion, seeing bitcoin go above $16k right now is making the crypto market seem hopeful. Because, we have seen this happen before, its not really surprising, some people are still hoping that may be we are going to see the price of bitcoin bottom at $10k. Its crypto anything can happen, we can see the price of bitcoin bottom at $10k before the year ends, we can still see it have a great massive pump, but only if no bad fundamental news happens.
The FTX collapse really brought a great bad effect on the crypto market, funny how SBF is claiming he can’t account for how some of the money were spent, he is truly the crypto villain in disguise of a crypto hero. But then, crypto is still new and they are a lot of bad actors in the space, hopefully they will get weeded out with time. Axie infinity is another token I have lost hope on after its numerous bridge hacks making the token tank so hard. Although its utilities is still valid as it plays as the governance token for the Axie infinity game, the game is one of the top play to earns in the play to earn communities. Even though I have lost hope in the Axie infinity native token, it had a little pump few hours ago.
The token is currently trading above $8, compared to the $7 price it was previously, even though lots of other tokens and coins seem to be recovering from the market, seeing AXS increase at over 20% was great for the AXS holders, for some weird reasons I am having a little pre bull market feeling, like we are about to enter a bull market phase with the rate these coins are pumping, even if they are pumping slowly, at least a win is a win. Glad we didn’t see Ethereum,ETH, enter the below the $1k price stage, seeing it above $1,200 price seems hopeful too.