Cryptocurrency has seen a fall lately, but why is it happening and what's going on with Bitcoin in particular? Many say it is because of China's cracking down on it, others say it's because of comments from certain CEOs or Tesla not accepting it anymore...
But it seems as inflation coming up higher than expected is one of the key reasons as well. It's still early in the game to see exactly where this is going. However, the question is, will crypto rise up again? Will Bitcoin recuperate?
The reality is that it seems as it is here to stay and the fact that the price went down is an opportunity for those who wanted to buy. As of May 31st, despite a rough couple of months, bitcoin was still up 24% year to date, and up about 270% over the past year.
We don't know what it means short-term but for those looking to invest long-term, there may be interesting strategies involving cryptocurrencies.
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