Certain Death for Bitcoin and the Crypto Market? Let’s Talk About That…
If you have been paying attention to the Bitcoin and crypto markets, you probably have seen something frightening… falling values. In fact, we are experiencing a HUGE sell off of Bitcoin and other cryptocurrencies, and this has been a massive blow to investors. How much? Well, this sell-off has eliminated almost $1 trillion in market cap. Wow.
How bad has it been? Well, Bitcoin and Ethereum, the leaders of the crypto market, have lost approximately half of their value from their peak values, but they were not the only cryptocurrencies to feel the heat. Other altcoins have also fallen sharply.
At its peak, Bitcoin hit over $68,000 in 2021. Just a few months later, it is hovering at around $33,000. Ouch.
Is this the end? Will Bitcoin die? Is it inevitable that you will lose everything? Let’s take a look at what the experts are saying:
It Appears that Bitcoin and the Crypto Market is Dying…
If you take a glance at the performance of Bitcoin recently, it looks pretty grim. Is this signaling the end of the crypto market? Even today, we saw Bitcoin recovering, but then just a few hours later, it was back in the red. But, experts are saying it’s okay, and that it is way too early to say that the crypto market, as a whole, is dead.
Yes, the market has certainly taken a tumble in the past few weeks and months, but that doesn’t mean that it’s all over. There are still plenty of signs that Bitcoin, and crypto in general, is still very alive and well.
First, let’s look at Intel. The chip-making behemoth is jumping headfirst into the Bitcoin mining industry with a brand new Bitcoin mining chip. Next, let’s not forget the news that approximately 300 banks have announced their plans to launch Bitcoin trading in 2022.
We are also seeing exciting things elsewhere that signal things may be perfectly fine for the crypto market. For instance, Microsoft just bought Activision, which is reiterating a focus on the ‘Metaverse’ as a whole. Instagram has announced that it is working on integrating NFTs into its platform, and Twitter is working on NFT verifications.
In addition to all of this, we have to look at a bigger picture. Yes, the crypto market is in a downfall right now, but when we look at financial markets around the world, they are taking hits right now, too.
Remember, cryptocurrency is still fairly closely connected to the stock market, and anything that happens there is going to affect cryptocurrency at some point, too.
We also have some fears out there over the Fed raising rates, which has kept almost every financial market out there on its toes. We will know a bit more about this in a couple of days, as the Federal Reserve may be making some changes in the upcoming days.
Keep in mind that China has cut rates recently, and property developers are losing ground there, so this is in response to that and an attempt to keep its markets moving up.
There is also the fact that many experts believe that this is as low as crypto will go, and that in the next weeks and months, it will shoot back up. In fact, many are also saying this is the perfect time to buy and trade Bitcoin and other cryptos.
So, should you see this as an opportunity? Perhaps. Though, as we all know, there are no guarantees that things are going to go up. We all know that the crypto market is extremely volatile, and you shouldn’t invest any money that you can’t stand to lose.
In the history of cryptocurrency, there have been huge rises and huge falls…but it has always bounced back. Odds are great that it will bounce back this time, too.