The markets are bleeding to death. Ether (ETH) fell from $500 to $300 in a matter of days, people are screaming that the DeFi bubble has already burst, and they’re crying because the value of their favorite currency “[insert name of food here]” has plummeted after a month-old Twitter account took out 38,000 ETH from investors.
According to Coinmarketcap, Bitcoin’s market capitalization is currently USD 188,310,118,530.
Yes, it’s just another week for the Cryptosoft, but did anyone else realize that Tron (TRX) was pumping in the middle of all this?
It may be a coincidence, but the last time this happened so fast, the entire crypt market bled out in the long, cold crypto-winter.
The top of the “Bart Simpson” pattern of Bitcoin price
Bitcoin has lost 21% of its dollar value after falling from $12,500 to below $10,000 in just two weeks, leaving the popular “Bart” pattern in front of us.
But when the leading digital market-capitalization crypto currency makes such a dramatic move, it drags along with it (for the most part) all other assets.
The high point of this particular chapter in Bitcoin’s price history was about $12,500, and many now wonder where the low point might be. So, in this week’s analysis, I’ll look at three potential scenarios of how to identify the minimum.