Crypto prices all around have fallen significantly in recent times. Bitcoin is down to about 37,000 USD, and it has not been this low since a very low 29,000 USD last July. Bitcoins total market value has fallen to 690 Billion USD. Across the board, people are unwinding themselves from assets that are perceived as risky, bitcoin and crypto included. Momentum in the crypto space seems to have fallen. Many big names in the crypto space including Coinbase, are feeling a steep downturn in activity as well. Crypto has tended to trade similarly to the stock market, particularly tech stocks, and this has remained true with a steep downturn in the stock market as well. Many people still feel that the coin has strong long term potential but investors have to be able to handle these volatile news cycles. The mainstream adoption of crypto seems to be what might be holding the space back. While many interesting events have happened in the space, such as El Salvador's bitcoin policies, crypto is still not as widespread as people seemed to have expected. Overall, the markets have been very volatile and safer investments seem to be the most attractive at this time.
Links to previous relevant posts
@oilmagnate/kazakhstan-crypto
@oilmagnate/outside-the-us-crypto
@oilmagnate/gas-fees-on-ethereum
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Any comments on my post are welcome and appreciated
