Did Crypto Prices Really Bottom?

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(Edited)


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One of the major functions I see crypto having is its ability to be used as a form of currency used in conjunction or even replacement of fiat.

There are currently signs of crypto prices bottoming as BTC fell to as low as $19k last week and bounced back over to $21k. In general crypto prices have either flat line or risen in recent days. Yet there are some troubling signs for crypto.

For one there are simply last users interested with the recent drop in price. Without demand the prices will likely continue to fall. The demand not only has demand fallen but it also effects the prices.

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The drop in price is also factoring on applications of crypto. With less demand there is less applications for crypto. Moving forward it is important to see how much drop or rise in demand and in turn its uses.

None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!



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Right now everything is expensive. Money comes first for expenses, things need to be paid. And with prices of BTC down so much, people are losing confidence and rather get what money they can for it. Hodling is the last thing on their mind. It will take a while before the demand is back again !

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It's sad to see but I kind of expected it with the falling prices. People feel safer with USD over crypto right now as it's less volatile.

Posted Using LeoFinance Beta

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