Bitcoin and Altcoin Crash: Is it Crypto Winter Already?

  • 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.

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