Bitcoin leads the bear market

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It is a well-known fact Bitcoin price movements affect that of alt coins. If there's a pump in Bitcoin, alt coins will definitely experience a pump too and in a higher percentage. Similarly, when Bitcoin dips, alt coins follow and still with a higher percentage. So, we see that Bitcoin is a reference coin in the market.

Of late, we have experienced a very bearish run in the market. We see a lot of persons getting rekt and being liquidated. Traders seem to be dumping more rather than buying. But it is a good period for long term investors to maximize.

The bear market saw BTC running to as low as $9825 from a recent high of $12468 as seen on the Binance BTC/Usdt chart. This bitcoin fall led to the depreciation in price of all alt coins. Ethereum despite the defi rise on its blockchain, it dropped drastically as well as Hive. Hive is currently trading at about $0.15.

You can imagine how it is for some persons who bought BTC at around $12k. Not a funny experience at all. In all, trading is not for the weak and impatient. There will always be bears like this and there will also be a bull run. So, market dip is a good time to accumulate.

We expect the prices of btc and alts to moon just very soon as the buy pressure seems to be increasing.

Posted Using LeoFinance



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2 comments
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(Edited)

Nice writeup, just noticed one of my post that was reading close to 10 hive drop drastically, hmmm it was saddening though, but I just pray this price of BTC shoots up soonest. It will be better off than this

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