Another 13% value decrease in August has meant that a Bitcoin share price has crashed 68% from its currency peak. Fortunately, September has seen a minimal turn and share prices are currently valued at slightly over the twenty thousand dollars threshold according to CNBC in this morning’s online post.
One bull specialist says the latest crypto winter is a ‘warm one’. In other words, the market should build traction to set off the gravy train all steam ahead! Not one to believe experts who quite frankly build their own image to portray prodigy dynamics, my inclination turns me towards tried and tested principles learned from knowledge and experience in the real world whereby intuition plays an important brain to follow.
Facts speak louder than probable cause if it is based on speculation. Company owners and employees are playing the ‘smart games’ tactic when they promote a lagging market that is under extreme pressure. It’s part of their obligation to join the wannabe syndrome. However, according to the report it is governed by the launch of Web3 which if true would encourage the general market to purchase stock.
According to a general partner at Race Capital, Bitcoin may have fallen by more than half from record levels, but there is so much more than that.
Edith Yeung says, “In some sense, the ‘warm winter’ is basically going to push out everybody who really [wants to be] there for short-term gain,” she told CNBC’s Street Signs Asia last week, highlighting that cryptocurrency is a long-term play. The term crypto winter refers to a prolonged period of depressed digital coin prices in the market.
Cryptocurrencies have lost $1.9 trillion in value since the height of the massive rally in 2021. Edith remains bullish long-term on digital tokens because its appeal lies in the fact that “crypto is really about Web3.”
Might be worth awaiting the slump until the new year before gobbling up “Cryptocurrency” to take advantage of the next bull market.
Take care!
Prof. Carl Boniface
Vocabulary builder:
Gravy train (idiom) = a much-exploited source of easy money. You can describe your new job as a gravy train if it's almost effortlessly easy and pays really well. Any source of income that requires very little effort on your part can be called a gravy train, whether it's a cushy job or a shady moneymaking scheme.
Frankly (adv) = honestly, forthrightly, freely, openly, bluntly, candidly, outspokenly, without beating around the bush
Probable cause (n) = usually used in law. Reasonable grounds (for making a search, pressing a charge, etc.). "Warrants allow police to detain people, but not handcuff and search them without probable cause"
Wannabe (n) = a person who tries to be like someone else or to fit in with a particular group of people. E.g., "A star-struck wannabe". (adj) = aspiring or wanting to be a specified type of person. E.g., "A pair of wannabe pop stars".
Gobbling (v) gorging, wolfing, eat up, (ant) nibbling