After dropping down mildly on Friday and suffering over the weekend, the leading tokens have bounced back. It seems Elon Musk’s Tweets have lost their charm. Both Bitcoin and Ethereum are up by at least 4% on Monday.
Earlier, last week, Tesla CEO Elon Musk made a series of tweets that were decoded by industry leaders as “trolling.” In his tweets, the tech giant made explicit signals of his resentment with Bitcoins.
In the meanwhile, the market is holding after it slipped head down two weeks ago. Apart from Bitcoin and Ethereum, other major tokens like Cardano (ADA) and Polkadot have also shown resistance and have managed to avert a complete wipeout.
Bear Market And Opportunities
In the last two weeks of May, we witnessed mayhem in the market. Several investors panicked and sold. Also, an equally significant number of investors were buying at a considerably lower price. After every correction, the market must present itself with opportunities.
In the long run, those who will hold will be the winners because if we are to look at both data and sentiments we know that the cryptocurrency market is expanding already. Moreover, since its inception, the leading token Bitcoin has tripled in value every year, 2021 will be no exception.
Also, the new Defi protocols and range of options for investors to diversify their crypto portfolio is another major factor that will propel the growth of this evolving industry further. This is the reason why hardcore crypto traders continue to see and make good of opportunities even in the Bear market.