The price of Bitcoin always affect other coin since the weekend Bitcoin as been experiencing a steady droop in price. Bitcoin as been trading below 39k for the past few days. Bitcoin is facing huge resistance at 40k.
Crypto trading is 24/7, the price of crypto for the next few weeks will be determine today. We are experiencing a little buying pressure but the bear are much in town. Bitcoin as to rise above 39k, and it need to hold that position strong. If the price of Bitcoin trade below 38k today we may likely see Bitcoin going all the way down to 31k
The federal reserve as increase her intrest rate, this may be a cause of the the droop in price.
Since the last bull run in October, the crypto space as been red. Many investors as lost over half of there investment.
Hive performed very well during the last bull session, the price of hive climb to 3.4m but currently hive price is trading at Currently hive is trading at 0.78.
The last bull run can be call the metaverse bull run because alot of metaverse project raise sharply in price.
The major question on the mind of alot of crypto investor is when will the deep be over? People keep shouting buy the deep but the deep get deeper. The basic truth is that no body know how deep the deep is going. To me the word buy the deep is scam, because you don't know how deep is the deep going, the current deep start around November, currently we are in may but the deep is yet to be over, we may likely go deeper today, if btc does not hold at 38k
There is huge indication that the price may fall close to 32k or bellow.
We all don't want that. But truth be told, there is much selling pressure than buying pressure. The bulls are out of the market and we see price going deep down than we all expected, no one expected this major pull back.