Investment

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Is Crypto On A Kiddie Saucer Or A Luge

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Bitcoin, Ethereum, and Dogecoin were sliding on Sunday as inflation fears, the likelihood of rising interest rates, and Ukraine and Russia news continued to weigh on the minds of investors. For a few short weeks between late January and early February, the cryptocurrency market, as well as the general markets, began to rebound, which was welcomed by bullish investors who had watched the crypto sector enter into a long-term downtrend that began in early November. The reversal to the upside looks more as though it was merely a relief bounce. As of Sunday, Bitcoin, Ethereum and Dogecoin have given up most of their 2022 gains. With trading, assets never drop in a straight line just like they never go up in a straight line, and although the three cryptos are trading lower, there are pivot points on their charts where at least a bounce to the upside is likely to take place. Crypto winter is a term coined to refer to a steep sell-off in digital assets, and that frosty season seems to be sending a chill down the spine of those invested in these assets.

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