It's not very nice out there in crypto land right now, is it? The Bitcoin decline continues today with yet another 9% drop in value from yesterday's fall of 10%. In the past week Bitcoin has fallen 17% and Ethereum is down 25% in the same period. Since the start of the year Bitcoin has lost 23% of its value, wiping billions off the price of crypto markets across the board.
(Bitcoin daily trading graph - down 9%)
Many of us were hoping that Bitcoin might stabilise around the $40k mark but sadly it has gone well below that now and is currently trading around $34.5k. It's been a bad start to the year, the worst January ever for Bitcoin.
This comes after a sustained period of growth for Bitcoin towards the end of last year in which we saw Bitcoin hit that new all time high of $69k in November. But disappointingly didn't give us the much sought after Altcoin season we were all hoping for.
Has Bitcoin and crypto now become so infiltrated by the banking elite that we can no longer rely on the usual price trends we used to rely on? It's difficult to say for sure. However, what we do know is that the big boys are now playing in the crypto space and they will have one thing on their minds only - to control. Who knows the precise extent of the grip they have on crypto right now. But whatever the case remember the smaller grassroots traders, like you and I, are still a powerful force in the cryptosphere. Keep the faith!
A C O M
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Hello dear friend @acom good afternoon
Complicated moments in the world of virtual currencies, these are moments to keep calm and hold on to what you have, and not sell for fear of falling more, if you can bear the embarrassment, that is what you have to do
I wish you all a wonderful weekend
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Yeyyy it is just a great time to go shopping. Buy, buy ,buy 🙃
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Ha! Yes buy the dip but the dip also kicks confidence in the teeth sometimes!
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"...what we do know is that the big boys are now playing in the crypto space and they will have one thing on their minds only - to control. Who knows the precise extent of the grip they have on crypto right now."
Right there, what you said. Type it in bold. Put it everywhere. The truest thing I've read today, and it is alarming to think about. We need to keep that slimy crooked bankers away from our sandpit, they robbed us long enough.
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Hey @remil, it was only a matter of time before the banks, central banks and governments got their hands on crypto.
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I'm honest not enjoying anything happening with Crypto currently. My Faith is terribly shaking at the moment 😂😂, but i'm still trying all possible best to keep the Faith.
I believe the OG's are taking this opportunity to but more during the Dip. Its quite unfortunate all I can do at the moment is stay calm and just watch afar off how its going.
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Yes it's a challenging picture right across the board right now in crypto land @skpixels, we will just have to wait and see if Bitcoin can get the strength to push vertically. It's good to see that BTC hit $38k yesterday.
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