Welcome everyone to the first official “The Daily Gist” on this occasion we will discuss the stocks turbulence between bull and bear markets. So The Daily Gist is basically a time where you get to read about top News, Lifestyle, Stocks, Business and entertainment topics.
On today’s chapter of The Daily Gist we will be talking about the cryptocurrency space. As most of us know Cryptocurrency is a fast growing space, as it has gotten more awareness since the launch of Bitcoin in 2009.
Table of Contents
Beginning of The Bull and Bear Stocks Turbulence
The year 2020 was a stepping stone for the space has the Coronavirus disease (Covid-19) breakout happened and a lot of countries affected went straight into lockdown.
This lockdown lasted for weeks in some countries and lasted for months in major countries. Also this conditions made people find a new source of income giving they cannot go to work or their various business enterprise.
A lot of people where in search for a new way of making money. From home which then, made them result to the internet money circle. Which is basically making money from the comfort of your house. Which is stocks and Cryptocurrency at tops the list of internet money.
The higher rate at which people got it had its effect on the crypto market. Taking the entire crypto currency market cap to over two trillion dollars in the space of 20 months. This is over 70% the initial market cap before the covid-19 breakout.
Increasing Demand And Supply About Stocks And Cryptocurrencies
This was from the increase in demand and supply of the top coins. Which triggers the worth of basically every coin in the space then. With Bitcoin, Ethereum, BNB, Solana, Dogecoin and the likes finding a new all-time high as the time passes.
By November 2021 they have all went up over 80% of their initial all-time high. With bitcoin hitting $68,000 dollars and BNB hitting $684 before the 2020 corona virus breakout. This was a good thing for the space and the investors.
The crypto market has now been facing downturns for over two months, with all coins going down at least over 65% of their all-time high. The entire crypto currency market cap falling below eight hundred and fifty billion dollars ($850 billion). This all started with the Terra Luna stable coin crash.
With Bitcoin hitting eighteen thousand ($18 thousand dollars) for the first time since January 2021. Ethereum going lesser than a thousand dollars hitting eight hundred and ninety-four united states dollars ($894 dollars). And BNB not staying out of the bear as it also sat below 200 dollars as at 17th of June.
Crypto Bitcoin And Ethereum Stock Market Achievements
The space has suffered a lot of backlash from critics since this has kick started, saying internet money is not to be trusted and it is a money stealing scheme. It has been known for the past months that crypto is not only the investment platform.
That is depreciating since the Economy downturn started after the war between Ukraine and Russia started earlier this year by February 24 2022 when the first attack happened. Though the war has been dated back to earlier years around February 14 2014.
The stocks market has been going down and Real estate taking a bite of the snack. We all expected sooner or later it will get into crypto the question now is how long will the bear market last?
There has been prediction about the bear market staying and lasting longer than we expected from top crypto gurus. Some said it will last longer and some saying it will be over soon.
Many Predictions Appear About The Bear Market
There have been some highlights news in the space for instance the Binance CEO saying “Bep20 BNB has a four years cycle”. Which basically means a two-year pump and a two-year dump hitting the current bear run might last longer than we are expecting. Also he mentioned it will take months before finding a new all-time high.
As we are getting negative predictions we are also getting positive prediction and encouragement from bitcoin billionaires. He saying, in the next 18 months bitcoin will be hitting two hundred and fifty thousand dollars ($250,000) as its new all-time high. He did mention saying bitcoin is a safe investment. Holders should keep holding because the profits will be earned.
Significant Changes To the Stocks Crypto Space
As at today there have been significant changes in the crypto space as Ripple (XRP) went up as much as 16% in the past 24 hours also bitcoin topped the $21,000 level.
And the biggest cryptocurrencies all have showed signs of recovery after a devastating fall last week. SOL is up 8% after the development team announced the crypto-native Solana mobile phone at an event in New York yesterday.
Avalanches AVAX was not left out of the bull race as it went up 8%. Extending yesterday’s gain as the project introduced a bridge to the Bitcoin network. Polygon’s MATIC added to its run with a 17% increase.
Bitcoin (BTC) passed through the $21,000 level as stated earlier. Adding to a steady recovery since last weekend’s plunge to almost $18,000. With this recovery above $21,000, we could see the coin go up to $22,600.
BNB is up over 8% sitting at $236 and Ethereum is up over 9% sitting over $1,200. Which has been going on for about three days’ this has investors wondering. If the bear market is over and it is time for the bull to take charge. Also start its own race or, is it just another drill where we just get a little pump for days. Then we head back into the bear market.
Anyway the holders are also certain that It will be too early to talk about a long-term reversal. Of course are waiting to see how long the current bull state will go on for. We would all love it if the market is back on track and stable.
Now we are at the stage where we leave with you with a question. Do you think this is just a drill or the bear market is now over. And it is time for holders to make the profit they have all been waiting for?
Thank you for joining us on todays’ edition of The Daily Gist.