The stock market is dragging Crypto down with it. Crypto is only following the general trends of the market.
1 min read
The Cryptocurrency market is strongly correlated with the stock market. For the past month or so, the stocks have been dwindling downwards and taking Crypto down with it. Investors don’t have as much money to put into the Crypto market right now due to the stock market dropping. This is in no way the fault of Crypto or Crypto investors being unconfident.
Too many people are focused on the short term. If we have a small correction, they call for a bear market. And if we see a small pump they call for life-changing gains within a week even though we are in a healthy long term bull market. These corrections are in no way a cause for a panic as we are more than likely to recover alongside the stock market after this correction phase is over.
TLDR: The stock market is in a correction, it is normal for Crypto to go down with it. It is normal for Crypto to follow general market trends.
submitted by /u/Many_Scratch2269
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