WHAT'S THE WAY FORWARD?
For two days now, we have witnessed the bearish of crypto leading to many thoughts on our mind. Many of us have different purpose of investment. Some borrowed money to invest while some wanted to make short term profit to support their businesses. A friend of mine invested all his savings in a particular coin and the coin has depreciated up to 40%. So,many of us depend on Crypto for our daily bread and frustration of the outcome of the market had lead to so many thoughts on our mind like.,
1. Regrets about the investment on crypto
2. Frustration about the expected pressure from our creditors.
3. The panic of further bearish.
4. And the thought of selling it.
Now the question is WHAT IS THE WAY FORWARD?
The challenges I mentioned above is based prevalent challenges traders face especially new traders in the crypto market. What we are witnessing currently is not the first time and it won't be the last. In crypto, the market are divided into two ( The bullish and The bearish) which means we are now at the bearish season of the market. We should know that price fluctuation in crypto market is based on demand and supply, Panic and Greed etc therefore, there are ups and downs which are the reason we shouldn't Panic or sell our coins. NOW READ THIS.
IN 2021,We witnessed one of the biggest volatility in crypto market which were mainly caused by government agencies. The Chinese government announced that All crypto transactions were illegal. #BTC mining was cracked down upon following a meeting of State council financial stability and development in May, which resulted in the massive shutdown all crypto mining in the country . The meeting in May 2021 saw Bitcoin dropped down to $29,000 in August, 2021. When media outlets announced Proshare's introduction of its Bitcoin Strategy ETF (exchange-traded fund) in late October 2021, Bitcoin's price skyrocketed over the next few weeks. Investors jumped at the chance to gain exposure to a cryptocurrency on an official exchange, causing a price jump to almost $69,000. #BTC #Pepe #Shib #Floki