The beginning of this week has been somehow unique and looking like the beginning of something Humongous in the crypto world. To put it simply, the crypto market has been down for the most part of this week. About 90% has taken a dive Starting from almighty Bitcoin, Ethereum to even the meme coin Doge. Shouldn’t people be crying?... Quite the opposite and this is why.
If you expect people to be afraid and panicking which usually is the case some years back. But not today, not this year. People are casually tweeting, snapping, Facebooking the hashtag buy the dip, most of them from the renowned influencers within the crypto space with a huge following. This has led to #buythedip being trending in countries like the USA. A country that hated cryptocurrency so much. To show you how low most of these currencies has fallen;
Bitcoin at the start of the week was around $57,000 but currently at $48,500 at the time of this writing, Ethereum first time at $2,000 and then falls to $1,500, same for Dash at $300, now at $224 and many more. Just take a look at an account on Twitter that does crypto market analysis.
But like I said, it looks like the best time in the market and people are hyped knowing what this dip means.
The excitement in the space is something to take note off and like I said earlier, this seems like the beginning of something big. A year and two ago I had some people trolling me about the dip almost around the same time and that isn’t the issue now. I can go on and on about why now feels so unique and this I believe is the reason.
People who weren’t able to buy at 57,000 can now buy something substantial maybe not so much but better than at its all-time high. I am not looking to go deep into the chart reading today but those who are good at are just waiting for the best opening.
Another reason could be the general acceptance of Cryptocurrency is here. No more telling people “cryptocurrency is here to stay” with big names like Elon musk, Snoop Dogg (Doge), and many big names even in the financial space talking about cryptos. You are sure certain of worldwide recognition.
To end it all, if you are looking to get into cryptocurrency, it's never too late as there is more craze coming up in the space. For the best part of it, know that cryptocurrency is the paradigm shift the world was waiting to experience and it’s happening.