The post-traumatic crisis of falling has plunged us into pessimism. But I wouldn’t say it’s anything particularly serious or permanent. However, the stagnation after the surrender is evident. The patient is not yet finished with the improvement. And everything seems to indicate that this is in the long run. It takes time. But the good news is that there is still a lot of hope. Namely, Our current limbo promises to be temporary. Sooner or later the market will overcome its fears and the price of Bitcoin will rise again. That is the great illusion of the majority. Fingers crossed.
This time it’s not Elon Musk’s (stupid) comments or the Chinese ban. The regulatory problem has re-emerged in the context of an inflation-concerned economy. Investors everywhere are moving their pieces cautiously due to the current uncertainties. Recently the markets have become quite conservative. This means that assets classified as high risk will be ignored by the public. Here is the ironic detail. Bitcoin’s current price is an opportunity to buy. Two options: we can get into collective fear or take advantage of the opportunity.
Now let’s talk about the week’s most popular crypto news.
I think getting into a debate over Elon Musk’s alleged plans is a real waste of time. It is practically impossible to separate the lie and the truth from your tuis. Are you really working with the Dogecoin developers? It can be true. But it’s also possible that it’s a joke. Tomorrow he can write that he never met the team. Or you can tell us that such devices are not available. With Elon Musk, you never know. Suddenly, it can be said that in a few months, Dogecoin will be the most scalable cryptocurrency in the entire system. But without presenting the slightest evidence. This is Elon Musk.
“Fundamentally defective” Of course, the plan is “fundamentally defective”. It’s a pump-and-dump scheme. Musk’s tweets are ambiguous, contradicting, and mutable. Your actions don’t seem to make sense, they create chaos. Now if we look at it as a pump-and-dump scheme, the matter becomes crystal clear.
Ah, the old trick of creating the crisis and then posing as its savior. Bitcoin’s narration as an inherently “dirty” business is well known. It’s a myth. The fact that mining requires electricity does not mean that electricity must necessarily be generated from fossil fuels. Elon Musk’s alleged concerns about “dirty” mining fuel the (false) narrative that Bitcoin mining is indeed a dirty business.
At its core, it’s very simple. The solution is to have clean and cheap energy. The problem is with the plants that use fossil fuels to generate electricity. China in particular is responsible for subsidizing dirty energy. However, it is unfair to hold Bitcoin as the culprit for China’s high carbon footprint. TO
It’s great that miners are looking for green alternatives. Likewise, it’s great that factories, offices, stores, and homes all over the world are looking for green alternatives. But don’t be fooled. This whole tweet from Musk worried about Bitcoin mining and his meeting to fix the problem is a show. Musk, the savior, to the rescue. He was able to explain from the start that Bitcoin mining as such is not harmful to the environment. Just as a computer is not necessarily harmful to the environment. But he chose the show.
Markets often test their support multiple times. It is nothing of the other world. Indeed, it is natural. The technical indicators are now showing that despite the recent decline, we are still on an uptrend. In addition, the fundamentals are stronger than ever. Half the world has expressed an interest in crypto. And the community is growing all the time. Investments increase. And adoption is increasing.
The market is slowly recovering from the blow, but everything seems to suggest it is temporary. Bitcoin’s fault is not everything. All markets are affected by the current uncertainty. Investors are facing an uncertain territory as they gradually enter the post-pandemic phase. Sooner or later, however, there will be more clarity.
Blockchain technology certainly has many uses. Crypto assets are, of course, one of his first children. And clearly her most successful application to date. However, the experiments have certainly increased in the future. I am very sorry for the death of the TON project. Or do I have to say “murder”? from TON? But at least we have this free TON presented as something new and interesting.
Unfortunately, many were sold out during the crash. Inexperienced retailers are the big victims of volatility. The impatient are the first to lose money by buying too late and selling too early. Now buyers are coming back. But be careful. You’re not just buying bitcoin. Because even with altcoins there is optimism. Especially about Ethereum.
Typically, after a widespread downturn, investors first buy Bitcoin and then use the profits made with Bitcoin to buy altcoins. This time buyers buy Bitcoin and Ethereum. This is slowing Bitcoin’s rally a bit, but it is an indicator that Ethereum is no longer that “risky”. as previously.
Everyone’s great fear is that the market will never recover from the crash. Most pessimists believe that we are officially entering the bear cycle. That is of course a possibility. But an unlikely possibility given all the bullish signals we still have on a technical and fundamental level. You could say that our trauma after the fall is only temporary. And buyers will gradually return as market clarity returns. Patience and more patience.