Hey guys, we are officially in the crypto bear market. More over, we are also in the midst of a recession and the highest inflation rate in the history of most countries, including United States. United States had a 9.1% year on year inflation for June. It will be interesting how much the Fed will increase rate because of this inflation.
As you all know, i am still holding crypto and I have firm believe in crypto that crypto will be the future of technology. As of today however, crypto is down almost 70-80% from its all time high. Many people are discussing where is this marketcycle bottom. Many people are saying 13.5 K is the bottom. Some people who are long crypto analyst are saying that 19.5K is the bottom because some of the charts are flashing bottom. Well let's see what happens next. As of now, as we are in a major economic downturn , we shouldn't see any major rally to the upside anytime soon. I believe that our macro economic doesn't help with the situation.
As of this week, the prices of bitcoins and friends are at:
Bitcoin ( BTC ) - $21,638.18 / IDR 320,392,000.00
Ethereum ( ETH ) - $1,437.63 / IDR 21,446,000,00
Here are some of the prices of crypto assets in my portfolio:
Cardano ( ADA ) - IDR 6,945.00
Polkadot ( DOT ) - IDR 109,000.00
Chainlink ( LINK ) - IDR 99,100.00
Stellar ( XLM ) - IDR 1,649.00
Tezos ( XTZ ) - IDR 22,400.00
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