Sirwin
Sirwin
Recovery after correction in crypto.

Recovery after correction in BTC,ETH other major crypto? or Correction to continue?$2.4 billion worth of crypto liquidated in the last 24 hours.


The Crypto market continued the correction, fell nearly 10% in the last 24Hrs.

 

This correction resulted in the liquidation of more than $2.4B worth of trading positions in the past 24Hrs. 306,315 traders liquidated their assets.
Trading platform Huobi recorded the bulkiest single liquidation order of Bitcoin worth $90 million. (Data from bybit.com).

Major crypto's like Bitcoin and Ethereum started falling after the tweet from Elon stating Tesla won't accept BTC anymore due to the impact it had on the environment. Dogecoin also fell heavy.
Bitcoin fell 22% from $58,643 touching $42,000 in a week's span.

After analyzing the latest chart, the crypto market is kind of showing a recovery. And I think this sort of correction and recovery is good for the overall crypto market in the long run. But the chance for further correction is not slim either. There is uncertainty overall, visible in the equity market as well.

So what do you think, more fall incoming? or a strong recovery?

Leave your thoughts in the comment.

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Crypto Douglas
Crypto Douglas

Crypto enthusiast.


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