Today Bitcoin saw a serious dump in its price, after having been doing quite well this week. The crypto market cap is now very close to 2 Trillion USD. This is certainly not where I expected either the market or Bitcoin to be at this point in time. I really thought we would be seeing a 3 Trillion USD market and Bitcoin at $80,000.00. Just proves I am no Nostradamus.
As you can see, Bitcoin has, just in the past month gone from $67,000.00 all the way down to $50,000.00 and for the past week went up to nearly $65,000.00 and is, at the moment close to the $60,000.00 mark. This up and down makes it pretty difficult to predict anything about where the crypto market is going.
I guess all people can do is hold on to whatever crypto they have and hope for a market comeback. But I guess a lot of people are going to sell all their holdings, thinking the whole market might go down a rabbit hole. And, a complete crypto meltdown could happen. I do not think it will, but it is definitely a possibility. I think crypto is to linked to the movement of big power players. therefore any move they make is reflected in crypto prices. And in a scenario like this, there is nothing any individual with a small stake can do. Of course those who do keep their crypto holdings will experience major thrills with the crypto behaviour, but still all that is left is to be positive and hope for the best.
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