After today’s recent dump, a new bear market low, and even an all time low, looms over ALGO
Algorand, one of the subs most shilled coins in the 2021 bull run, has become unprofitable for almost all ALGO hodlers, as the only time the coin has reached these prices was between March 12, 2020-2020, when the COVID-19 black swan event flashed-crashed the entire market. There has been one other day in May this year as well.
The coin has been consistently creating lower highs and lower lows since it’s 2021 bull run peak, with no reversal in sight. It has recently lost its #40 position in the crypto market.
Even with Bitcoin being up 62% year-to-date, Algorand refuses to follow, with the coin being down 7.5% year-to-date. The ALGO/BTC pair has also recently made an all time low a few days ago, meaning this is period time is when you could get the least BTC for your ALGO.
Do you think ALGO will make it out of this bear market within the top 100?
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