How cryptocurrency market recovers from its great dip: A roller-coaster experience
As we all know, every market experiences a season of loss, and blockchain technology is not spared from such a scenario. This is not the end, though. Today, we at PrivacySwap will explain how the cryptocurrency market will recover from its significant loss despite its roller-coaster experience.
Over the years, the team behind PrivacySwap observed how cryptocurrency had maintained a robust image regardless of the downsides it has experienced since it started operation. 2017 was indeed the year when cryptocurrency such as bitcoin saw its market capitalization skyrocket to $328.89 billion. However, it wasn’t long before cryptocurrencies experienced their most significant decline in the succeeding years.
Cryptocurrency over years
The succeeding year measured the cryptocurrency’s feasibility as its greatest downfall arose.
In early 2018, bitcoin experienced one of the platform’s significant declines. Its regime didn’t last too long. Its soaring $20,000 price in late 2017 had been pulled by gravity and ended at over a little $3,000 in late 2018. It is true “the higher you fly, the greater you fall.”
Fast forward to 2020, despite the pandemic hitting the entire world’s economy, cryptocurrency remained resilient and was able to redeem itself. Cryptocurrency started to regain its vanquish in the last two years. Early 2020 however, challenged the market as it showed a bit of a slide down to its current market.
Nevertheless, 2020 opened new doors to the need to widen its services and features. Bitcoin ended at $23,700 in December 2020, while Ethereum ended at $700. 2020 also helped other Cryptocurrency features to be discovered by more people. NFT became more popular and the DeFi ecosystem became recognized and used by most ‘hodlers’.
So, What’s the point?
Regardless of how low the cryptocurrency plunged in 2018, the market recovered in late 2020, even surpassing its own record and proving the saying “cryptocurrency is here to stay.” In addition, enthusiasts and crypto experts discovered and developed more valuable things about crypto, such as DeFi, specifically NFTs and alike. Therefore, New features and discoveries just attested that cryptocurrency has more to offer.
Nowadays, the blockchain industry developed and launched technologies that can provide a much better return and safety to their users. Platform features such as yield farming are becoming more widely recognized and offer more significant income to investors, hodlers, and traders. Most developers adopted this type of ecosystem as they created their platform, such as PrivacySwap, which offers yield farming services. Despite being new to the market, PrivacySwap offers one of the best and the most secure crypto transactions in the market to date. In addition, we continuously develop and launch technology to improve safer and secure crypto transactions.
It is indeed true that the cryptocurrency market is unpredictable and that the economy’s slump indirectly affects the market’s price. However, the ecosystem can quickly recover as its backbone is swift in decision-making, and the investors are intelligent. Nevertheless, it is always best to stay vigilant and knowledgeable about the platform you will be investing in.
Since PrivacySwap aims to promote education and enlightenment about the cryptocurrency market, creating an article of this type will help more newbies understand blockchain technology, especially DeFi. We also aim to provide a platform that provides passive income without compromising security. Moreover, as we continuously develop our platform, we also want to uplift our users’ lives and gradually help everyone become financially independent.
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