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Home»Web 3»Crypto Tanked (But We’re Still Bullish…Here’s Why)
Web 3

Crypto Tanked (But We’re Still Bullish…Here’s Why)

2024-04-03No Comments2 Mins Read
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TL; DR

  • The crypto market lost $190 billion overnight, but these kinds of corrections of 5, 10, 20 or even 40 percent are typical in the run-up to Bitcoin’s halving.

Full story

Ah, the irony…

Yesterday, as the crypto market traded sideways and volatility decreased, we wrote an article telling you:

“This is the calm before the storm (enjoy it while you can)”…

Since we published that article, the crypto market has lost a total market value of $190 billion, wiping out hundreds of millions of dollars in leverage.

(Leverage = loans people take out to buy more crypto – as prices fall, buyers are forced to sell their crypto to pay back their loans).

Waking up to see all the top 30 cryptocurrencies in the red is quite a shocking site… but we’re still optimistic!

This is why:

  • Bitcoin fell below $65,000, a price we haven’t seen since last week (not that scary when you put it that way).

  • Such 5-10% dips are normal during a bull run (in fact, in previous bull markets these dips have often been closer to 20-40%).

  • Dips, corrections and crashes are an important part of this Bitcoin halving events (so this is just at the right time).

  • Bitcoin has been in the green for the past seven months in a row – which is a new record! (And also means that we are heading for a red month).

The takeaway:

Although heartbreaking, this latest crypto market correction is timely (and mild compared to previous bull cycles).

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See also  Democrats to Abruptly Reverse Party's Position on Crypto to Avoid Election Disaster: Mike Novogratz
Bullish...Heres Crypto Tanked
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