In recent month, the entire crypto market is experiencing a strong collapse. The tightening of the Fed’s policy, rising inflation in the US, the recent collapse of Terra USD and the freeze on the withdrawal of funds from Celsius heavily shook the entire industry. Cryptocurrency flagship — Bitcoin — dropped in price by more than 40%, in the middle of the month the collapse of the asset accelerated — on June 13, Bitcoin lost 15.7%, and on June 17 it fell to $17 648, the December 2020 low.
However, according to a Bank of America survey, the adventurous spirit keeps burning in many investors. Among 1,000 retail investors, 90% are still going to buy crypto assets in next six months and 30% similarly do not intend to sell cryptocurrencies, despite the collapse.
In November 2021, the largest crypto asset reached an all-time high of $68 986, but now we are in a narrow range of $17 600 — 21 800. For a successful trader, the most important thing is to be able to quickly respond and adapt to any situation. No matter what phase the market is in, you can always make profit. Relative to historical highs, today you can buy the most popular cryptocurrency cheaper by 71%! Or go along with the trend and open short positions.