In the cryptocurrency space, mainly for Altcoins is relatively down at the moment but still up 10%+/- on the weekly. The culprit was this wild price volatility of Bitcoin where it swung from almost reaching thirty-eight thousand dollars and down to 34.8 and right back up to almost 38K again and then going down again to 35.5 and after three days in the moment of this writing it is up again to the 36.5. It is a good price for BTC as of this moment, but we already had seen the price go as high as nearly 70K last February of 2021 and might go further if not for the problems made by the war of Putin, SBF fiasco, and a stable coin collapse, those and the interest rate hike had played big roles in stopping the bull run of BTC. But we are up again because of this current bull run of BTC which is not going parabolic at this moment but is just having incrementation of pushing through resistance levels which is in this case and situation, the break of the 38K milestone yet again after two years of reaching that level with is push to its all-time high way back 2021.
With the wild swings of the price of Bitcoin, the altcoin prices are majorly affected and it shows in the charts of each and every altcoin for the most part in a much bigger way. The altcoin tends to wrinkle away if their move upwards is not powered by Bitcoin's bull run plus even Bitcoin's sideways movement in a relatively good price also has a negative effect on Altcoin prices like a balloon not getting enough air to make them to valuate positively and it has been that way since time immemorial and we have to learn from it because it is normal. Because of that we are in a bigger way given an opportunity to buy lower once again to ready ourselves to sell some of our cryptos when our Altcoin starts to pump up from what we had seen for the last ten days or so.
This opportunity comes very frequently in the crypto markets especially if BTC is moving because somehow many traders would take off profits and then buy back again which affects the Altcoin as stated and thus, making the gears of the crypto-economy run in a sustainable way. I always emphasize the role of BTC in firing-up the "crypto-economy" and because of that we can always profit if we just collect and hold and then sell if it reaches our target prices for selling and this goes on and on for I believe in the indefinite period of time.
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