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Bitcoin has once again done it; it has once again shattered all the hopes and desires of investors and remains the most volatile cryptocurrency in the crypto market.
It seems that there is no hope for Bitcoin anymore because, for the past six months or more, the crypto has remained only bearish, it hasn’t caught on even a single bliss of the bullish crypto cycle, and this has made not only the investors suffer but also the crypto market and other cryptocurrencies as well because Bitcoin has the largest market capitalization in all of the crypto market and it is kind of carrying the weight of the whole market on its shoulders.
Market Corrections are Fierce
According to research, Bitcoin has claimed over 70% in terms of the corrections because it seems that its value has only deprived with the passage of time; with 30% of the corrections that are left kicking in, the asset will surely go all the way to zero, and that is something that is going to prove to be an Armageddon taking on the crypto market or what is left of it.
The situation is only getting direr with the passage of time, and any hope for a miracle kicking in out of the blue seems bleak at the moment.
According to another revelation, more than 62% of the Bitcoin addresses that serve as the storage sector for the cryptocurrency have all the tokens intact in them.
The only plausible reasoning that can be drawn from here is the fact that these addresses have not sold even a single Bitcoin in the past year or so.
It seems that the investors have lost touch with the cryptocurrency, and the overall sentiment of the market is approaching a negative stance.
Otherwise, there might be a single person out there that might have bought the cryptocurrency, but more than 62% of these addresses have remained stagnant for the past year or so. And that is not a positive element for the cryptocurrency at all.
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