Will the Crashed Crypto Market Will Bounce Back?

We all have noticed the turmoil that is taking place in the cryptocurrency world even if some of us do not follow cryptocurrency.

Bitcoin, the most well-known cryptocurrency is responsible for a third of the value of the market. Since the end of March, this year the value of a single bitcoin is dropping slowly as well as a greater malaise is also taking place in the tech sector.

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Further in May, it dropped to an even lower than it was in the preceding month. And the immediate reason was the catastrophic downfall of another cryptocurrency project, named terra. This cryptocurrency was costed more than $50bn once but that week it proved to be worthless.

The moment terra crumpled, the other cryptocurrencies fell too. It was mid-May when the market stopped crashing further, but the stability does not show signs of returning to the highs. Also panic gripped the whole market and investors throughout the phase.

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The crypto market has survived this type of crypto crash before. This phase of ‘crypto winter’ is no doubt harmful to the crypto market surely but it should not forget that spring follows winter every time. So the investors should sit back patiently and the correct time will definitely come.

Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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