Steemit Crypto Academy Contest / S1W4 – Reviewing the Instability of the Crypto Market by @hasiburrahman1
🥀🥀Assalamuwalikum🥀🥀
Dear friends, how are you? Hope everybody is doing well. You are healthy. I am also much better by the grace of God. I am Hasibur Rahman from Bangladesh. My Steemit User ID Name @hasiburrahman1. Today I am going to participate in a beautiful competition at Steemit Crypto Academy.
Today in this post I will share with you Steemit Crypto Academy Contest Season 1 Week 4 Post. The theme of this week's Steemit Crypto Academy competition is to review the volatility of the crypto market. Currently the situation of cryptocurrency markets is very bad. Downtrade is now going on in all the markets. There are many reasons for this downtrade. I will show it to you today by analyzing it.
Most of the cryptocurrency market is currently experiencing a sharp decline, especially in recent days. What do you think of this drop? State its causes and how long do you think it will continue in this downtrend?
Currently our cryptocurrency markets are in a very weak phase. There are many reasons behind this. If we look outside the crypto market, that is, outside the crypto market, if we think about our stock market. We will see our but the price of each product has increased a lot.
In that case, the crypto markets as well as the stock markets around the world are moving in a very weak way, meaning that the price of the product is rising. Again the value of cryptocurrency is declining. I hope it reaches high trade again. But it will take some time. Let's take a look at some of the important reasons why today's Crypto Market Down Train is running:
1.War between Ukraine and Russia:
The recent war in Ukraine and Russia has played a significant role in weakening the crypto market. Because before the Ukraine-Russia war, the cryptocurrency markets were very good and had to grow at a high rate. But recently the crypto markets have become very weak due to this war. But it has not only affected the crypto market. This is affecting stock markets around the world.
If we look at our country a little. Then we will see that as a result of this war the prices of every commodity in our country have gone up. About 10 % to 15 %. Especially the price of oil and onions. It grows at a more upward rate. Because Russia and Ukraine are not able to supply our country from those countries as a result of the war. Where Russia has big sesame roots and supplies our products. Because of this war which is no longer able to deliver.
So as a result of this war, not only the stock market but all the crypto markets are in downtrend. Because of these big wars cryptocurrencies who do business. They take away their money. Because these wars could lead to the closure of such cryptocurrencies. Which, of course, made the video an overnight sensation. Russia's war in Ukraine is also having a major impact on crypto markets.
2.Rising rate of inflation:
We know that the price of every product in our stock market is increasing day by day. As a result, the rate of inflation is rising and the crypto market is weakening and people are holding and saving money to cope with inflation, which has an impact on the crypto market.
3.China's decision or order on cryptocurrency:
We know that China is a very developed and rich country. That Chinese government has officially declared cryptocurrency illegal. Where I think China is one of the most developed countries. If we look at our country, almost every product in our country is supplied from China. As a result, our country has an economic balance with China. Now that the Chinese government has declared cryptocurrency illegal, I think it will have a big impact on the crypto market. Because they are very advanced in the view of civilization.
Now I wonder if our world could rise economically in a very beautiful way. Then again in a few days our crypto market may rise to a higher level.
Do you think it will continue in this downtrend?
I think now that the market is in downtrend. I think the crypto market will rise from this downtrade to uptrade again. But the time is unknown. That is not to say. If Ukraine's war with Russia stops, the uptrend could return to the market. But if the Ukraine-Russia war starts again for the third time. Then the crypto market may collapse again. Also if the financial demand is met. Then a little market will come again. Because I think the biggest reason this cryptocurrency market is weakening is when people's needs are met.
I hope it rises again in the uptrade but the time is unknown. This time is not right. I hope that one day the crypto market will be uptrend again and cryptocurrency will increase. We all have to continue the cryptocurrency with patience. Then very soon we will be able to reach the high peak of the market again.
Why doesn't this drop in the price of a few coins decrease their trading volume (eg: Bitcoin)? How will they deal with this market instability?
Crypto trending is a very important factor for investing. Its volume indicates how much has been bought and sold. How are the prices etc. Now the cryptocurrency market is very weak but despite being weak, the volume of some coins is increasing.For example: think bitcoin. Although the price of Bitcoin is low, which means that even if the crypto market is weak, its volume increases all the time.
You can see in the picture of the marketplace above that the volume of today's Bitcoin is 44.6%. But it has increased. Bitcoin is one of the first cryptocurrencies to be created. It is called Bitcoin. Also other ones are called alt coins. Now that the market is weak, traders can buy bitcoins at very low prices. As a result, they have sold or given away other coins and are investing and trading in bitcoin. As a result, the volume of Bitcoin is increasing. Even after the market is weak. If the price of Bitcoin goes up again then people will give up Bitcoin Binayak again. Will invest other coins.
Now the price of bitcoin is very low. So everyone is buying bitcoin now. It will rise again. Then people and others will purchase taxes. Bitcoin prices are currently rising. Not only bitcoin but also other coins will increase in price. And they will buy those coins. There are others that are still available to buy at lower prices, but prices may rise further in the future. They start investing and their prices go up. Because the price of crypto market is always fluctuating.
What is the relationship between the current instability and the downfall of the Terra ecosystem and its Luna currency? Do you think its price will bounce back? If so, tell us how and when?
I've been talking about cryptocurrency for so long. In front of you What I am going to talk about now is really a very sad thing. In our country there is a Facebook group about LUNA. There are many posts about LUNA in that group. There I see the posts Lunar Price that so much was invested. It is not like expressing in words. I mean LUNA was at a very high level.
But due to the recent market downturn, the price of LUNA has come down in a way that cannot be expressed in words. It has become very upset. Which once people invested a lot and which was very expensive. Today Luna's price is very low which is not like expressing in words. Because of this many people have decided that they will no longer invest in cryptocurrency.
There is a currency behind this LUNA endangered jetty has gone below UST $0.50. The reason why LUNA is so upset is that the authorities have not been able to hold it properly. If they could have held it, they could have climbed to a higher peak. But sadly, they have not been able to hold it. Was a very popular project. And we know that merchants nowadays are very interested in tokens of metaverse technology. Those who like these tokens very much. LUNA was in a very good position in metaverse technology. I think so.
Do you think its price will bounce back?
I don't think Luna's price will return to its previous level. To get to the previous situation, Lunar's capital must surpass Bitcoin's capital. But losing bitcoin capital is almost impossible. But there is nothing impossible in the future. This may come up in his situation in the future. But I don't think that's possible. So let me just say that I don't think it's possible for LUNA to get back to her previous situation, and even if she could, she wouldn't be able to.
Our Steem ecosystem, like most currencies, has been affected by this market downturn, has this caused you as a user some stress? Or are you still confident in this project? Give your opinion, specifying the arguments that support your review.
Currently this cryptocurrency downtrade is not just a little market it is going on all over the world market. The prices of some of its products are going up a lot and the price of cryptocurrency is going down. I think it will come back to the previous situation again just waiting for the time.
This is because it depends on the steam ecosystem. So I don't think as a user there is any pressure. I took it very generally. However, this has had a profound effect on the crypto market. Which means it's about to be the most delusional time of the year, as well.
I have long been associated with a little currency. I am hopeful that the steam ecosystem will return to its previous state. I have faced similar situations before. But I saw the market was good all the time. I still hope we can get back to that situation. But it is a matter of time. Now the cryptocurrency market has suffered a bit due to some errors in the world, some errors in the stock market.
I think if the world situation is normal we will be able to reach the peak of cryptocurrency again. This is my personal opinion as a cryptocurrency user. The crypto market has to be patiently connected to the cryptocurrency until the previous situation returns.
Conclusion
Finally, there is nothing to be confused about in this cryptocurrency market. We all have to work patiently. Inshallah the market price will go up again. We will always think that the market price will go up again.
I would like to invite some of my friends to this contest and I am glad that I was able to participate in this contest and invite them to participate in this contest.@enamul17 @jasonmunapasee @sikakon @aniksikder @mdriart.
My Twitter link
https://twitter.com/Hasibur43388989/status/1527908900833374209?t=gtuGGtQWNUyGHcipBArNKw&s=19
The current state of the cryptocurrency market is a bit worse due to different conditions in the world, but if all these conditions are normal then the price will return to its previous position.
Yes, we can. But it will take some time. Thanks for a nice comment.
Friends, you are sharing with us a very nice post about Crypto Market Downtrade. This is a very instructive post. People can learn a lot with it. Thanks for sharing.
Thank you so much for a nice comment. We hope the marketplace will return to normal soon.
You have beautifully illustrated and analyzed the current market of crypto market. But I hope the crypto market price will come back again.
Thank you so much for inviting me. Your article is so nice. You explain the current situation of cryptocurrency. Hope the market price will increase.
Thank you so much for a nice reply.