Cryptocurrency prices are affected by the law of demand and supply. As the demand increases, with supply unchanged, the prices go higher. As the supply increases with decreasing demand, the prices fall.
Since Tuesday, Bitcoin, and other cryptocurrencies collapse as investors flee risky assets.
Bitcoin and other cryptocurrencies are in freefall as investors flee risky assets amid rising interest rates. The world’s largest cryptocurrency trading platform, Binance, has also temporarily suspended cryptocurrency withdrawals.
What can traders do in the face of a crypto winter? Like bears in winter, they can try sleeping off the cold weather, but as the song says, “Money won’t wait”. Like the proverbial ant who did not have to work during rainy days, one should “make hay” during crypto winter.
Consensus 2022 is over and done with each one giving themselves a pat on the back, but the gory details of fiascos still need some sorting. There are now signs of a liquidity crunch, and maybe even insolvency, at the centralized lending platform Celsius Network – arguably the “other shoe” dropping after the LUNA/UST unwind.
The Weak Will Die, and the Strong Will Eat Their Bones? Shucks, we’ve built ourselves a fine moat where no ghouls can enter, and yes, enough of the scare tactics which drive more people to get rid of their crypto assets. Some critical thinking is in order.
We are neither bears nor whales, and more like little penguins as crypto believers; we are looking to make the best use of this frozen crypto weather. Take some tips from this Story we’ve put together as a survival kit for all.
Credit: Source link