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REPUTATION AND FAITH OF CRYPTO AT RISK AFTER ITS SHARP FALL

REPUTATION AND FAITH OF CRYPTO AT RISK AFTER ITS SHARP FALL 

Bitcoin, the most widely held cryptocurrency, has risen to 6.2% to re-trade more than $ 21,000 after falling nearly $ 17,000 over the weekend. Ether, the second most popular token, added 6.5% at one time and went up to about $ 1,191. Altcoins, which include XRP, Cardano, Dogecoin and Polkadot, are all reunited.


The return has sparked controversy on Twitter, where many private conversations took place, of buying a dip and keeping faith even amidst the recent brutal selloff that has seemed to be squandered by millions of dollars.


Many tweets have played the role of FOMO investing in a highly dynamic environment. Tuesday's rise is an example, they say, if you fail to shop during a major immersion - you end up missing circles, too.


However, not everyone was ready to call it down. Founder of Quantum Economics and Chief Executive Officer Matt Greenspan, at times, remains vigilant.


"I do not know if what we are seeing now is a dead cat jumping, or if it turns out we have an unrealistic error of less than $ 20,000," Greenspan said. "I think it will still be decided."


Some point to a historical precedent, arguing that the Bitcoin bear market, while volatile, is rapidly developing:


Even though crypto, which had a few difficult months, and other commodities, such as stocks, were not immune to the market crisis, the weekend’s decline surprised many investors by surprise due to the magnitude of the decline. Google Trends data shows that Bitcoin weekly searches reached the highest level in the last year.


The head of MicroStrategy Inc., Michael Saylor, estimates that Bitcoin continues to emerge:


While some point out that Bitcoin at a young age traded a small portion where it is today:


"There has been a resurgence of bullish sentiment on the social media platform, however, it is not very close at the moment," Greenspan said, adding that if the $ 20,000 was held, "it would be" very strong. "

Source: yahoo




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