Bitcoin Seems to be Recovering, Things are looking good once again for the crypto world
We all know how famous bitcoin is and how it has gradually become the most important currency in the crypto world much like how the major currencies like the dollar and the euros have lots of influence on the world stock markets and forex markets. In our part of the world, within the niche we have created for ourselves Bitcoin is the King or the Queen if we looking at power play on the chess board and its moves tend to have lots of influence on the market.
Recently things got a bit scary for us, we woke up one morning only to find our King or Queen player plummeting, going all the way down, as low as $24,500, and as usual it did well to drag all cryptos along with it. Our very own steem went as low as $0.1565 on Binance and it almost reminded us of the time during covid when steem was around 10 cents. We Kept our fingers crossed and hoped within our hearts that the bulls will take over soon on the support level and that good news would soon come to our hearing.
All these whiles Luna was also causing fear, panic and pain for it's investors after falling from Grace, a Grace of over $100 worth an asset or a coin all the way to what is now $0.000189. Assets worth over millions are now worth almost nothing whiles some lucky ones who took a buy just at the right time on it's fall managed to secure fortunes for themselves within the twinkle of an eye. That was when when the price jumped from $0.00013110 to $0.00059500 and another when price jumped from $0.6889 to $7.8800.
For now it continues to plummet and some experts even claim that it could become a dead coin soon and so please do not risk your money on it or what you cannot afford to loss on it. In other news bitcoin is approaching another resistance and anything at all could happen. It is possible that there could be a take over of the 31K to 32K area followed by another fall or we could see a momentum breakthrough. If we break 32K we are good to go if not then we could be going back to 28K. Lets keep our fingers crossed but for now all looks positive and we seem to be recovering fair enough...
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The market seems to be rising as it stands now and I hope it continues.