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After the markets collapsed significantly yesterday, the prices of Erhereum, Bitcoin, and Co are strengthening significantly today. Recovery comes after the flash crash.
Flash-Crash
After China said (yes, they did it again.. sigh) that it would ban or at least severely restrict cryptocurrencies, the market collapsed. Too much pressure had come. In the past few weeks Musk has expressed himself negatively against Bitcoin in various media, US Treasury Secretary Yellen (you witch!) criticized cryptocurrencies and now the People's Republic of China wants to ruin the crypto industry for good. At least that's what it looks like. The relevant cryptocurrencies rushed south with a bang. Today is the recovery.
Bitcoin
Bitcoin rushed downhill by 30% at times. A hefty loss, especially when you add the price losses since the all-time high at $ 60,000. The most famous cryptocurrency had to take a beating in the past few weeks. Today an increase of 15% licking our wounds here I guess. The recovery seems intact tho so that's good. From a weekly perspective, this is still stuck in the red at -16%, but with signals upwards. In a month's view, Bitcoin is 23 percent in the shitter.
Ethereum
The second-largest cryptocurrency by market capitalization was particularly beaten yesterday. In some cases, the course halved. Ethereum was traded for less than 2000 dollars. In the meantime, Ethereum can also enjoy a good race to catch up. Plus 20 percent so far on today's trading day. The Buy the Dip investors are happy. The question is, did we see the bottom yesterday? According to the current picture: Yes! However, it is unclear whether this will stay that way. It could also be a “dead CAT bounce” effect. However, the current price level is far too high for that. It actually seems like a healthy recovery. The beginning of a new rally? Over the course of a week, this is a minus of 30%. Still. In the recent Ethereum rally, a correction seems more than healthy as the coin is still 40% up,
Coinbase
As the crypto representative on Wall Street, COINBASE also got under the wheels yesterday. The “damage” was minus 5 percent. The Coinbase price does correlate with the cryptos. However, Coinbase is highly profitable. The US company made huge profits, is growing well, and is comparatively cheaply valued. So if you want to benefit from the crypto recovery, you could also bet on Coinbase shares. Today there is a plus of 4%. The recovery seems to be starting here too.
Crypto and stock markets recover
Overall, today is a positive day in the books. Ethereum, Bitcoin, and our beloved stonks are recovering. The exchanges are green. Those who have not yet invested should be careful now. Is this just the beginning of a significant recovery, or are we gonna end up like this?
