- Bitcoin continues to move between the support level of $32k and $40k
- ETH, ADA, XRP and DOT suffered a decline rate from -5% to almost -20%
Bitcoin continue to dance between the support level of $32k and $40k as its resistance in the past 7 days. This bearish swing of Bitcoin was felt at every corner of the crypto market. As a result, several altcoins such as ETH, ADA, XRP, and DOT, to name some, suffered a decline rate from -5% to almost -20%.
For this reason, the people in the crypto community are wondering if we are already entering the crypto winter. This made crypto enthusiast beeple react in a tweet post:
However, some people remain bullish about Bitcoin despite its recent bearish performance. For example, the crypto analyst and investor il Capo Of $NOIA explains in a tweet post that Bitcoin will soon take off.
Regardless, this is not the first time that Bitcoin and other altcoins experience a market dip. Therefore, most of the crypto community is already prepared for a situation like this. In fact, some traders see this market dip as an opportunity to buy and set good trading positions.
In other news, Bitcoin volumes in Paypal exceed $300 million. With this, we can say that investors still keep their trust in cryptocurrencies despite its wild market swings.
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.