I know, I know. We all like to check the charts every 5 minutes. Some people yell “BULL MARKET ????????” with every +5%, while others (or sometimes even the same people) yell “OMG BEAR MARKET IS THIS THE END??” with every -2%.
Bitcoin is $43,400 at the time of writing. We haven’t seen this price since 2 weeks ago. If you’re in for the long term, a small pullback should not matter.
Why is crypto volatile?
Like most commodities, assets, investments, or other products, crypto's price depends heavily on supply and demand.
As an asset adopted quickly by investors and traders, speculation about price movements plays a critical part in crypto's value at any given moment.
Media outlets, influencers, opinionated industry moguls, and well-known cryptocurrency fans create investor concerns, leading to price fluctuations.
And unfortunately, the crypto market tends to follow the (traditional) stock market. If you look at the S&P index for example, you can see it had some pullback as well.
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