That is the BIG, BIG question as Bitcoin plummets -by 54% from its recent all-time high to the $30,000 mark.
These are incredible times and who is to say the revolutionary coin won’t suddenly soar back up to another all-time high as it has done already TWICE this year?
As it is, the markets are in something of a freefall and are literally brimming with amazing trading investments opportunities as FEAR and FOMO continue to reign!
Why is Bitcoin’s dramatic fall so HUGE? Well, you can find out in our latest Trades Of The Week for in-depth analysis – but, in a nutshell, this time around, Bitcoin’s drop was actually caused by TERRA LUNA.
As you may know, Terra Luna’s stablecoin was recently pegged to the US dollar – i.e. 1 stablecoin = 1 dollar. But what happens when you don’t have enough cash reserves? You get unpegged!
The big thing here was Terra Luna then sold all its Bitcoin holding to get re-pegged!
Then everything came down like dominos!
It means, for us investors, there are some very enticing propositions available right now, not only with Terra Luna but ETHEREUM, CRYPTO.COM, AVAX, MATIC, HEDERA HASHGRAPH, and ENJINCOIN which is down a whopping -82%! The others are sitting at between -50% to -75%.
BUT that was not the only surprise this week… as SOLANA found itself in the middle of an investor storm which lasted 7 hours. Let’s just say it had something to do with 4 million transactions per second!
As shocking as this was, it’s all part of cryptocurrency’s evolution – so don’t panic!
Oh yes… with high fashion house Gucci now accepting various cryptos as payment, including one notorious “joke” coin, it has left our founder Marcus contemplating capitulating and buying “some of the damn stuff!”