Crypto crash is your big chance!| Cryptocurrency.Mohoagd


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Crypto crash 2021 despite decline, crypto remains a strong bet

I just finished watching Don't Look Up on Netflix (NASDAQ:NFLX), but as a crypto investor, this week has seemed more like "don't look down."

It was unattractive. Bitcoin (BTC-USD) began the week trading above $42,000. It had plunged below $37,000 by late Friday, a 12 percent decrease in just five trading days.

And, if I'm being honest, Bitcoin's chart is so messed up that it appears that prices could plummet to $30,000 in the near future. The degree of support has been shattered. The Relative Strength Index (RSI) is low. Moving average appears to be a disaster. It isn't pretty...

But here’s the thing: Corrections like this are par for the course in crypto markets.

Any crypto investor who has been around for a while will tell you the same thing. They believe that if you invest in equities, you should expect a few 5% to 10% dips each year. Every year, you should expect a 20% reduction in cryptocurrency prices.

What's more, guess what? Risk and profit are inextricably linked, and those who can stomach the volatility of the crypto markets are rewarded handsomely. Bitcoin rewards people who patiently wait – and especially those who purchase dips!

Cryptocurrency crash, behind the scenes

While cryptos fell this week, the dip was driven by mood rather than fundamentals. What was going on behind the scenes was as follows:

  • VC funding is still on the rise. a16z, a major crypto venture capital firm, just revealed plans to seek $3.5 billion for its latest crypto fund, up from $2.2 billion in June 2021. Surprisingly, the fund's chief information officer believes that "crypto is destined for a severe correction." It looks that the sharpest people in the room — and yes, a16z is deserving of that label — agree with us: cryptos are in for some near-term strife. However, there will be some incredible possibilities in the midst of the suffering. What other reason could there be to raise $3.5 billion?
  • The NFT/Metaverse obsession isn't going away anytime soon. Everyone is flocking to the metaverse these days to launch NFTs, and the mania shows no signs of abating. Microsoft (NASDAQ:MSFT) announced its largest acquisition ever this week with the $69 billion purchase of Activision (NASDAQ:ATVI), a major bet on Microsoft's ability to utilize Activision's gaming assets and enter the metaverse. Walmart (NYSE:WMT) discussed launching its own cryptocurrency to acquire NFTs, and Meta launched NFT options for Facebook and Instagram. Cryptos are intrinsically tied to the metaverse and NFTs. The more people who use the former, the more likely they are to use the latter. 
  • Cryptocurrency payments are growing popularity. According to a new Visa (NYSE:V) poll, 25% of small and micro-sized businesses aim to accept cryptocurrency payments this year. This happens as customers get increasingly acquainted with the idea of digital wallets and increase their use of cashless payment methods. We've always believed that adoption patterns will be the true long-term driver of crypto values. This is hugely bullish news for cryptos if you think at it that way.

The Cycle

Overall, we believe Bitcoin is in the midst of yet another cycle: rally; collapse; consolidate; rally again.

We've completed the "dropping" phase and are now moving on to the "consolidating" phase.

That has historically been the ideal time to enter the market.


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