Crypto has been in a bear market since the beginning of May, when the total cap of all cryptocurrencies sank to $1.785 trillion, representing a fall of just over 20% from a four-month high of $2.273 trillion, set on April 5. And compared to this already depressed level, the market has continued to sink further, dropping another 23% by May 12 and remaining more or less in the same position ever since.
Every bear cycle in crypto is greeted with a degree of relief by founders, engineers and other insiders, because theyβre freed from the hamster wheel of chasing deposits, users and mainstream attention, and instead able to focus on building for the long term, both technologically and strategically.
So yes, crypto is well and truly in a bear market at the moment. However, market-wide declines hide a number of nuances and exceptions, with some cryptocurrencies holding up or performing better than most.
I am curious about your top 3 holdings, what do you think which projects look promising? Or have you converted to stablecoins? Maybe sold most of your crypto?
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments