There is quite a bit of FUD in the market at this time. The overall crypto market cap has fallen from a high of $830 billion in early January to a low of $430 billion in mid January, and is now currently trading at the $500 billion level.
Individual cryptos such as Tron (TRX) have seen even sharper drops ($0.26 to $0.05), while even prior safe havens such as Bitcoin have fallen over 50%. To make matters worse there is currently even fear that the ultimate stable coin, Tether, could be a fraud.
With this much seemingly going wrong, many might be completely panicking and taking money out of the crypto market completely. I believe that is a poor decision. Additionally, I believe this entire situation was largely orchestrated by whales who wanted to create this discounted buying opportunity (I have my sources).
I believe we are at rock bottom levels. The main reason I have is that the fall to $500 billion total market is actually much deeper than it appears. Many new crypto enterprises have entered the market since the last time we were at this level, meaning the market is at a very steep discount.
The potential for the crypto market is to reach into the $10's of trillions as I believe this industry will change the world and will become the new way global business is done. There are many great projects that are revolutionizing technologies such as artificial intelligence, data storage, distributed computation, business contracts, supply chain, sharing/decentralized economies, gaming, and undoubtedly finance and value transfer.
As for me, I am HODLing of course.
Hi @kylekidd
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Appreciate it
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Good job ...
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Thank you :)
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