Well, Crypto is in a slump. Last week I thought we were out of that problem and we would have smooth growth for at least a few weeks. But no, I was terribly wrong, again. For a lot of reasons Crypto is right now in a negative mood, but I think it is just a reflection of financial issues all over the World. apart from the elite few, everybody else is feeling the economic crisis, and Crypto had to be a part of it too.
At least the market cap has not fallen below 2.5 Trillion USD and Bitcoin is still well over $65,000.00, so at the moment this is not a tragedy. Thing is, with so many haters and rival economic strategies I believe Crypto is a hard target for a lot of very influential people, even governments. Of course electronic money is here to stay, we just don't know who will come out the winner.
Even if Crypto loses I believe it will still be around for a long time, it has just gotten too big to disappear. But it is a worry. As you can see in the chart Bitcoin barely touched $70,000.00 this week. I do hope the week we are starting will bring some relief at least have the market cap reach 2.7 Trillion and BTC reach 70K.
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