After the latest Bitcoin halving, there’s been increased interest among traders to examine Bitcoin’s ability to withstand potential prolonged market declines. The concept of “hodling” or holding onto Bitcoin for an extended period is gaining traction in discussions.
According to Santiment, an analysis tool for markets, there’s been a noteworthy shift among investors towards safer assets such as Bitcoin during the X period, while various sectors of altcoins, including those focusing on AI, gaming, DeFi, and memes, have experienced considerable pullbacks.
A cryptocurrency investor on the X platform, identified as @Crypto_Wolfie1, has mentioned that Bitcoin experienced a short-term price increase, but some market participants suspect this is just a temporary uptick against the backdrop of broader indicators suggesting a potential market correction, which have been evident for the past fortnight.
The user expressed that Bitcoin’s influence is increasing, with investors selling off altcoins to transfer funds back into Bitcoin and Tether.
Based on the user’s description,
Traders anticipate that investors will keep shifting from lesser-known cryptocurrencies towards Bitcoin, while simultaneously converting their digital assets into regular currencies due to growing apprehension, anxiety, and uncertainty (FUD) in the cryptocurrency market.
Read More
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- XRP Price Eyes $2 Support Level Amidst Market Correction
- OREO Unveils Six New Products for 2025
- Russell T Davies Says He “Kind Of Hopes” The Streaming Bubble Will “Pop”
- Apple Lands Anya Taylor-Joy Led Drama ‘Lucky,’ Based on Bestseller
- Google’s Willow Quantum Chip Sparks Bitcoin Security Debate
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- India signals no fixed timeline for crypto rules, calls for global alliance
- PYTH PREDICTION. PYTH cryptocurrency
- Paul Atkins to Replace Gary Gensler as Next SEC Chair?
2024-04-16 21:56