We have all seen some improvements in the market over the past few days and this has brought some joy and put a smile on our faces as we check our portfolios hundred times a day. With Bitcoin hitting a high of $45k since the beginning of this year and also BNB. Ethereum and much of the market seeing some significant increase. Many people have termed this the next bull run of the year 2022 and are anticipating for an even higher rise in the price of these crypto assets. Also many have jump into the market to take part in the bull run and not get left behind should in case we witness another miracle as it happened last year when Bitcoin hit $60k and above, while Ethereum strike $4k and BNB $600.
But as the week goes down, it seems to have taken the market a little bit down with it as we start witnessing a dip from the 11th of February and as of the time of writing, cryptocurrencies are dropping and as a normal rule of thumb in the crypto market, once Bitcoin starts to drop, it pulls down with it, the whole market.
As of the time of writing, Bitcoin is around $42k after hitting a high of $45k this month, Ethereum is around $2900 after seeing a rise above $3100 while BNB is around $398 after rising above $430 this month. Same goes too for mostly all the cryptocurrencies in the market coming down below their all time high this year.
Meanwhile, many still have faith in this month’s trajectory and are wishing the dip is just an opportunity to enter the market more and a pullback to reinforce and start the bull run with the speed of light. Others still remain skeptical about the market and are taking their time to study every single track of it. Just like what happened with BNB, BTC and ETH last year around this period, care should be taken and research done properly before jumping into the market.
However, the future looks bright for the industry as Binance, the world’s largest and leading cryptocurrency exchange made a $200 million strategic investment in Forbes (Read more)
Also, we have seen some widespread adoption of cryptocurrency amongs big institutions and countries, states and municipalities. But very much also from the sports sector and Athletes have been into it most recently with most of them getting their pay in Cryptocurrency.
We remain vigilant as we watch the market moves its blue and red candlesticks across the horizon. Our advice for you now, Do Your Own Research and do not FOMO.
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