In the last few weeks, the overall crypto market has climbed to new heights, rising over the $1 trillion mark, a sign some believe a recovery is on its way.
While some investors were overjoyed to see these changes, this raises questions about how long this supposed bull market will last.
Most cryptocurrency investors are two distinct groups: those in it for quick money and the second holding these digital assets for the long term, usually years, if not a decade or more.
As Bitcoin grew by 5.56% (valued at USD 21,248.76), many short-term investors stated this was perfectly aligned with typical recovery, meaning a long-term recovery wasn't far behind. But for those long-term investors, the opposite seems to hold true, with many saying this change is only a minor correction and nothing more.
In November 2021, BTC rose to over $68,000, its highest valuation in history. However, the digital asset was followed by a bearish market correction, causing it to drop to USD 47,000 and below in 2022, which is only beginning to stabilize. If a crypto winter is in store, it's wise to proceed with caution and tread lightly; who knows what the future holds?
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