Market is quite volatile these days and the main crypto prices moved quite a bit from their previous all time highs. Should we be scared, should we run, should we sell everything and get out of the crypto space? Well, if you are weak-kneed and your pulse goes to zero probably you could, but you could as well take your eyes away form the market prices and wait patiently for your assets to retrace their growth. Assuming you have picked wisely and your assets have real use cases and keep up with the innovation and technology in the space, you should do good. As I hope the same for myself.
Starting with Bitcoin (BTC), the granddaddy of all cryptos, it is currently priced at $56,740, down 23.7% from its ATH of $73,737.94. It's like the wise old grandpa who had his glory days but still packs a punch. You never know when Grandpa Bitcoin might just dust off his cane and hit new highs again. We all need an OG in our life and for some of us that's Bitcoin, trust it!
Next, I was looking at Ethereum (ETH), the platform for all things decentralized and the second-in-command. Priced at $3,002, it's down 38.4% from its ATH of $4,878.26. Imagine ETH as the overachieving middle child who’s had a bit of a fall but is likely planning a spectacular comeback with some new DeFi or NFT craze. And who knows, maybe in the future it might try again to flip Bitcoin and even succeed with that.
BNB (Binance Coin) is another asset from my portfolio and the native coin of Binance blockchain, is holding steady at $516.79, down 28.8% from its ATH of $717.48. Think of BNB as the exchange student who made it big but has had to adjust to some new rules and regulations. With Binance’s constant innovations, BNB is always just one step away from surprising us again. And while it continues to provide value to its investors through Launchpools, Megadrops, Airdrops and other earning opportunities, it will be a top contender.
Looking further I cannot ignore Solana (SOL) even if it's too centralized for me, the high-speed youngster that came out of nowhere. At $139, it's down 46.2% from its ATH of $260.06. SOL is like that energetic, fast-talking friend who promises big things. Sure, they’ve had some stumbles, but they’re always quick to recover and race ahead. An ecosystem for meme coins, it lives based on hype and can skyrocket anytime and as well fall all of a sudden.
Lastly I will stop also on XRP (Ripple) just because one of my friends truly believes in its potential after winning the SEC war, and is the controversial one that always has some drama. Currently priced at $0.436, it’s taken a massive hit, down 88.6% from its ATH of $3.84. XRP is the soap opera star of the crypto world—always in the news, always facing challenges, but with a fanbase that believes in a happy ending.
What I can conclude on is that the crypto markets are notoriously volatile, and these dips are just part of the journey. It's like riding a rollercoaster with unexpected turns, but with every plunge, there's the thrill of an impending rise which we already see. Remember, cryptos have a way of bouncing back when you least expect it. So, keep your seatbelts fastened and your FOMO (Fear of Missing Out) in check!
