Crypto markets are under immense pressure once again, looks like the market just can’t catch a break. Escalating tensions in Ukraine, change in Fed’s policy, and the Hack (or Phishing scam) at OpenSea are mostly to blame for this recent downward drive. There is much uncertainty in the world right now. And as I have said before that during such times Risky assets get dumped. In the short term Crypto will probably stay volatile but nothing has changed in the long term. Bitcoin fundamentals are solid, and as Bitcoin gains more acceptance it’ll probably decouple itself from risky stocks and move independently of them. It’s good to understand the reason behind the volatility, it’s got nothing to do with the fundamentals of bitcoin or Ethereum, markets just reflect the sentiments of masses. And right now everyone is panicking.
Under Pressure
By Siffarr | Cryptoglyph | 21 Feb 2022
Cryptoglyph
My bite size $.02 on crypto
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