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Why It's Not All Crypto Doom and Gloom by bitcoinflood

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· @bitcoinflood ·
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Why It's Not All Crypto Doom and Gloom
![](https://images.ecency.com/DQmczv4zhJPSZWVogKmabT463zUwf5Ja2BGYmyqRGxPDR3Q/gem.jpg)



It would seem that the last week has been hit hard with doom and gloom stories about major companies crashing, Chinas evergrande, bitcoin falling to 25k, Elon selling bitcoin and so on seems bad news but is it all that way?

While many of the large players are selling out what we are seeing is a reback to the support levels of just before all the Spot ETF prices came into talks. Those Spot ETFs once again are delayed until 2024 so are investors willing to sit on what seemed to be a dead (by dead I mean no up or down movement on the crypto) crypto such as bitcoin?

It seems not and many took their profits which then of course sparks a sell off of other people fearing the worse only to bounce back a small amount from an over sold market. It legit never fails and we can see this in this latest 48 hour chart from CoinGecko.
![](https://images.ecency.com/DQmTts8uFDHRGUb3uN3v3vUdto5VRjnj4mR6KwiXhMVkg6N/btc.jpg)

We can see that sharp sell off and then the bounce off of it which will most likely slowly accumulate over the weekend. *not financial advice.

### The Alts

But let's get off the mains here for this topic and see that other projects are actully doing rather well. Just because the marketcap has fallen does not mean there are not other great projects.

In this same time period a crypto called RUNE otherwise known as THORchain has seen staggering growth of over 9% in and the last 7 days 39% as it recently just launched lending a major upgrade to the overall system.

![](https://images.ecency.com/DQmb4RLYC1D3RKe3a8BRhVSF6LKW1WyCqiypUth5iCjJ4LW/thor.jpg)

This also shows us that traditional DeFi is pretty dead and if you're not implementing these other features into your DeFi platform well you're going to be left behind and shut down aka completely worthless.

INJ otherwise known as Injective also saw rather larger increases in this time frame.
![](https://images.ecency.com/DQmYxeSyg3DS19iPdvQbdFF8MVPmr8j9Y26nsmX3HSBVMLG/inj.jpg)

INJ Prides itself on being a blockchain for Finances and so far they have painted a rather good pictures as to what they are doing and accomplishing.

The thing about a bear market and sell offs is that it starts to show other projects you might not have known about as good fundamental growth channels. Of course you need to do your own research first before you make the decision about if this is a good crypto to invest in or not but a bear market along with a sharp sell off shows hidden gems. 





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@poshthreads ·
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https://leofinance.io/threads/bitcoinflood/re-bitcoinflood-28ynjvy5r
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@smallbites ·
I don't understand BItcoin that well, but what you say about selloff by major players and resulting FUD selling makes sense.  Do you see a good entry point this weekend or should we continue to DCA into Bitcoin?
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