As ETH and other altcoins keep losing money BTC continues its recovery, slowly but surely. We have seen crypto go into the bear market in the last few months and now most of the coins are also in the red.
Bitcoin now has been dominating the crypto market for 7 months straight. It has reached its highest level since October 2022 and now dominates the market. WIth the USDT and LUNA taking major hits BTC once again has emerged as the king of coins.
The BTC has been down by 1.5% and closed at $29k, on the other hand, ETH took a bigger hit and closed at $1,800. Even people’s views are shifting all the time on crypto and its usage. Some people are touting it to be the future of finance while some are saying that it is an outright scam. With the SEC rejecting Ark21Shares request for a Bitcoin ETF the official stance of the USA on cryptocurrency is still unknown.
On the other hand, Tether released a Peso-based stablecoin that shows the Latin Americans’ interest in adopting blockchain and crypto. Solana is down by 10.5% and showing no signs of recovery. This quarter has been a hit and a miss for crypto but people are still “HODLing” on their assets.
With the market down it is the best time to get more coins into your portfolio and wait for them to get some value. Crypto is here to stay and becoming an early adopter will help you out in the future.