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29 March 2024
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Investors Afraid of Crypto Winter

  • Cryptocurrency investors are in a pickle since Bitcoin slipped from its record high of $69K, which BTC attained in November.
  • Not just Bitcoin, this fall affected the entire crypto market where altcoins followed BTC’s lead down the hill, inflicting losses to investors.
  • As this article was being written, the cryptocurrency market had a total market capitalization of $1.6 Trillion, with Bitcoin sitting on the throne.

It’s Getting Icy For Crypto

It’s been tough times for investors there’s no denying it. Since Bitcoin slipped down the hill, individuals are worried. Not just that, BTC’s fall led other cryptos to follow its route down the hill.

Since that event, the cryptocurrency market has dropped over a Trillion Dollars in its value, and many specialists think that this road down the hill hasn’t ended yet, and more slippage is expected, and that won’t be the final wave. Many individuals are now puzzled regarding what the future holds for them in the crypto market.

Over  $1 Trillion loss has already been borne by the cryptocurrency market since November, the time around Bitcoin’s fall. Other tokens such as Solana and Ethereum have followed this path.

Ethereum’s price has almost cut into half since climbing its all-time high in November 2021, while Solana’s drop was scarpered, bearing a fall of 65%. In 2018, Bitcoin experienced a dark period addressed by crypto winter by many, inflicting a damage of 80% loss to the crypto asset: this could be a similar case of present price action.

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Former cryptocurrency chief at Facebook (Now Meta), David Marcus, recommends that crypto winter is already activated. Individual tweeted earlier this week stating, It is in the course of crypto winters where top entrepreneurs develop better organizations(Just like how a Phoenix rises from his Ashes). Again, this is a period to concentrate on kicking the barriers vs pumpkin tokens.

BNP Paribas’s COO, Nadya Ivanova, shares diametric opinions regarding crypto winter, saying that, over the previous year, particularly considering all hype concerning the crypto market, many devs appear to see a divergence by simple gains from NFT conjectures and other crypto assets, this cool down might be a genuine chance to start developing market fundamentals.

Stars To Shine From Dark Skies?

Numerous coins have suffered similar destiny as equities as big suffers, especially the share market. Various investors are afraid of tough laws and amendments in interest rates, which is receiving a blow in the face if folks emerged as prominent players the previous year. United States Central Bank is thinking about this kind of momentum countering escalating inflation.

Some researchers state that this might be the end of the road for ultra economic money and skyscraping valuations, particularly in rapid growing spaces such as technology, benefitting from reduced rates since organizations utilize borrowings for business investments.

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As this article was being written, the cryptocurrency market had a market capitalization worth $1.6 Trillion, dominated by Bitcoin.

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