The cryptocurrency market is characterized by high volatility and that it is not supported by any central or governmental authority, it is not exempt from receiving the impact of certain external factors, it is currently experiencing a bear market stage, as is well known Because of all of us, we are going through a pandemic that shook the world economy, inflation has reached impressive levels, it is because of them that the Federal Reserve (Fed) of the United States recently announced the increase in interest rates by half a point, these measures had different consequences and impact on the economy, since it triggered the sell-off of NASDAQ and S&P 500 shares,and the cryptocurrency market also directly felt the impact as a wave of nervousness spread that led thousands of investors to carry out the massive sale of the two main cryptocurrencies, such as Bitcoin and Ether.
This price drop not only affected Bitcoin and Ether, but it has been generalized, a situation also occurred that exacerbated the nervousness of investors, and it is about the collapse of the stable coin TerraUSD (UST) which lost parity with the dollar ($) and caused the total loss of the value of the LUNA cryptocurrency, all this caused distrust and fear in thousands of investors of losing their capital.
We know that there is not much optimism in the economic outlook, we are currently facing difficult times, however I believe that this is only a cycle, the market will not always move in an upward direction, by studying the historical behavior of an asset we can see certain patterns and identify that certain cycles occur, speaking particularly of Bitcoin, we have seen that it has faced bearish stages and that it has then recovered again and even reached new maximum prices, this project has very solid foundations and I am sure that it will soon recover its worth.
Thanks to the knowledge acquired on this platform, I can have a fairly clear criteria, not only do I let myself be carried away by the pessimistic forecasts that announce the collapse of the cryptocurrency market and the total fall in the price of bitcoin, but rather I can see opportunities to buy assets at a low price to sell them at a higher price when it recovers. Seeing from the point of view of an investor, I have high expectations and confidence in the recovery and start of a bullish stage.
In the case of our blockchain, I have full and absolute confidence in this project, although we are going through a stage in which the price of Steem has decreased, I remain very optimistic, I am sure that if we continue working and maintain consistency and support for our platform and continue to invest in it, we may soon see the value of our cryptocurrency recover and I even think they have a lot of potential to go above $0.50 in the coming months.
I am aware that this is a very important source of money for most of the users, especially those of us who live in Venezuela, however we should not be ungrateful and abandon the platform when difficult times arrive, rather we must make an effort more and contribute to the development and strengthening of our platform that has allowed us to have different achievements and joys....
