Given the recent stability in the crypto market, it was assumed by many that the harsh storm that was in its full might tearing down the price and gravitas of Bitcoin and other cryptocurrencies might finally be over. But if the bearish storm was over, then why was there no bullish rally of any kind? Well, to confirm the worst fears of many crypto enthusiasts, a partner at a leading crypto firm has issued a warning that the storm is far from over for Bitcoin and other altcoins, and the prices might get many jolts before the waves cool down and the storm is finally over.
SpartanBlack from Spartan group is a pseudonymous entity that says that Bitcoin is about 40% down from its all-time high, and it is clear that Bitcoin and other cryptocurrencies are in a beat market right now.
Bitcoin’s Price might Drop once again before Rebounding Strongly
Many believe that the major part of the recent correction is over, and now it seems that everything might cool down, but this individual says that it is not over before taking another hurl at cryptocurrency’s price. The bad thing that can happen, according to the expert, is that these cryptocurrencies might take a 40% more decrease in their price from the current point. He thinks that there exists a possibility that the recent sell-offs might be temporary, so the overall appetite of the said corrections seems full. It also means that investors will not have to wait much longer to see ample returns coming back on their investment.
The whole thing hints at the volatility of the crypto market and how it is playing with the overall notion of trust among crypto enthusiasts and trading. Trading volumes are not down, neither the fees have gone up, but the general vibe or the thrill of the people investing their money into cryptocurrency doesn’t seem as valid and current as it was some time ago. Anyway, there is a possibility that correction might just be over and there are just no more bumps ahead, or it could be the other way around.