Recently, Bitcoin (BTC), the world’s largest crypto by market capitalization, dipped below $40,000, it was the midpoint of a three-month price range, and Most cryptocurrencies traded lower on that day and most alternative cryptocurrencies (altcoins) declined by less than bitcoin, which suggests the current pullback in prices could be temporary.
Such downfalls are very common and generally either due to some whale dumping his portfolio, or some influencer giving out some tragic news, or life-changing news.
In other cases, most of the dips are backed by a peak increase and are pump and dump schemes by some people, who market, buy and sell for huge profits.
But I still trust in many projects like Stellar (For New Crypto Payments Network), Quint(brings real-world luxury to metaverse), Curve (Popular Cryptocurrency to Buy for DeFi Exposure), and so on. Cause altcoins underperform in a market sell-off because of their higher risk profile relative to bitcoin. And also technical indicators suggest that bitcoin could stabilize at around $37,500 despite signs of slowing price momentum on the charts.
And regardless of what the analysis shows, a true cryptocurrencies’ potential is hidden behind its purpose and working, and vision.
P:S: That is the reason shitccoins are unable to cross even a dollar, and others get to soar at sky-high prices.
BTC dipped but not crashed
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