Between April 28, 2022 and May 2, 2022, the price of Bitcoin was moving in a price range between $ 38 and $ 40 thousand, while there was a great decrease in bitcoin and cryptocurrencies this week, and the price of bitcoin fell to $ 30 thousand.
While this situation worries many crypto money investors, we can see that it upsets them.
In this post, I will give brief information to STEEM and crypto money investors about the main reason for this decline. At the same time, the price of STEEM declined and it dropped below $0.33.
I'm very well-versed in the price increases and decreases in cryptocurrencies because I've seen huge ups and downs so far. Price drops create buying opportunities in the cryptocurrency world. Of course, I never draw on charts and I am not a price analyst.
The reason for the decline in cryptocurrencies is described as the interest increase by the US Federal Reserve, according to the information I have learned, many news show this. The Fed increased interest rates by 50 basis points and the dollar gained value in the global market, while bitcoin and cryptocurrencies fell sharply after the head of the Central Bank said that the rate hike would continue. If there is a friend who has more detailed information, he can talk about it in the comment section.
The STEEM price had risen as high as $0.46 just five days ago, before that on April 22, the STEEM price had risen to as high as $0.60. I shared a detailed announcement in my personal account regarding both price increases. You can find out by clicking the links below.
I had previously transferred 10K+ STEEM from Binance exchange to my steemit wallet and increased the SP in my wallet.
Today, I turned the decrease in STEEM price into an opportunity and bought about 170 dollars (500 STEEM) from the Binance exchange.
Unfortunately, I could not transfer the 500 STEEM I purchased to my steemit wallet as the STEEM withdrawal process is under maintenance on the Binance exchange, but I will do 500 STEEM Power Up when the withdrawal process is opened as soon as possible.
🌟The decrease in STEEM price can negatively affect the morale of steemit users, but you can turn these price drops into buying opportunities. At least that's what I personally chose, I can't say anything about how much the price will go up or down.
💻 : Statistics were reviewed on CoinMarketCap-STEEM
🖥 : Desing : Canva
Amigo que gran inversión, ojala puedas multiplicarlo.
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