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Hi Crypto Community and welcome to another blog post!
These last few weeks have been tumultuous for the Cryptocurrencies we all know and love , i.e. Bitcoin, Ethereum, BAT etc., making the barefoot investor in all of us HODL like we have never HODL'd before.
The likes of Tech-Giant Elon Musk has had a significant impact on the value of various Crypto's, seeing a -30% decrease in Bitcoin price that sent a huge shock to the crypto system and reverberated to other altcoins.
Why this was a great time for bull investors
One phrase, low prices - higher demand. even now most cryptos are seeing a much welcomed rebound from the panic caused by Musk. These few weeks have shown how much influence he has on the cryptocurrency economy and has a large deal of responsibility for the crypto community.
The Numbers
- Bitcoin - worth $39,057.02 USDT + 11.52%
- Ethereum - worth $2,672.56 + 26.51%
- Ripple - worth $1.01 + 31.36%
- BAT - worth $0.75 + 33.43%
- Bitcoin Cash - worth $752.77 + 36.77%
- Litecoin - worth $186.23 + 30.86%
- Dogecoin - worth $0.3601 + 20%
* all prices and rates of change are correct as of 9:15 am UTC+8 AWST (Perth, Australia Time)
What this all means?
This promising development has paid off for all the smart investors who bought more crypto and for those who are HODLing their crypto like me and have seen their crypto's worth increase. It made me really happy to see my BAT go from $0.11 to $0.19. Ahh. Much better.
What's next after this?
Hopefully. And I stress hopefully. Crypto prices will continue to be on the rise and continue to make me and my crypto wallets happy.
Conclusion:
These last few week have been a lesson and a blessing to those who waited for the optimal time and came out strong in an albeitly insecure period of time. Another opportunity like this may not happen again so be on the lookout :)
