The largest cryptocurrency, Bitcoin (BTC), has had a 70% decline from its all-time high in November 2021, suggesting that it has already experienced the worst of this bear market as it touched the $17,500 mark.
The latest CPI report for June revealed that inflation in the United States had reached 9.1 percent, the highest level since November 1981. This news only fueled a downward trend in Bitcoin and the cryptocurrency market. At the time of writing, BTC is trading at $19,590 down by more than two percent.
But the long-term investors hold on…
According to cryptocurrency exchange Coinbase, long-term bitcoin investors have maintained their holdings in recent weeks even as speculators have fled the market, pushing the cryptocurrency below $20,000.
The fact that long-term investors are keeping bitcoin suggests that they have faith in the currency’s ability to weather what seems to be a Federal Reserve-induced down market and eventually flourish as a fiat alternative or digital form of...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...