Crypto Market Bloodbath: To Buy or Not To Buy
2022.04.11 12:06
Crypto Market Bloodbath: To Buy or Not To Buy
- The entire Crypto market declined for more than -1.9% in the past 24 hours.
- BTC and ETH trade with major price cuts.
- AVAX and SOL both suffered over -4% price breakouts.
The global crypto market is experiencing red flags once again, dropping its value to over -1.3% in the past 24-hours. All major cryptocurrencies are trading with mark-down prices. The king of crypto assets, Bitcoin, is now trading below $43k from its high price of $46K in the past few days. On the other hand, Ethereum, the crypto next to BTC, fell -1.9% in the past 24 hours.
Source: CoinGecko
The crypto assets mentioned above are just some of the major digital assets that experienced the bearish market’s wrath. One of the reasons that can be attributed to this event is the ongoing tension between Russia and Ukraine. Furthermore, the rising restrictions of different countries towards BTC and other crypto-assets can also be considered a factor that suppresses the crypto surge.
However, this market downtrend also sends positive signals to some investors and traders in the space. In detail, interested investors can now enter the market and purchase their favorite crypto assets at a very low price. For example, Terra (LUNA) is down to more than -7%, whereas Avalanche (AVAX) and Solana (SOL) dropped over -4% each.
In response to this, crypto analyst Lark Davis reacts on Twitter (NYSE:TWTR),
This market will beat you down time and time again! Those who make it, those who get rich, are the ones who keep getting up and smiling no matter how many times they get punch in the face by the market. #bitcoin #crypto
— Lark Davis (@TheCryptoLark) April 11, 2022
In the tweet, Lark explained things about the market performance. “This market will beat you downtime and time again! Those who make it, those who get rich, are the ones who keep getting up and smiling no matter how many times they get punched in the face by the market.”
The tweet gathered different opinions and reactions in the Twitter space. Some agree, while others simply stay neutral and wait for further developments.
Regardless, this is not the first time that the market is experiencing this kind of challenge. In fact, to all veteran investors in the space this is not something to be surprised by. Nevertheless, it is still up to the traders and investors to strategize their next move. Like what is mentioned above, the crypto market is on its knees.
So the question is:
Is it time to buy or not?
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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