Benjamin Franklin famously stated there are two inevitable issues in life: tax and death. In the modern world, with the advent of cryptocurrencies, there’s one factor that’s more certain than others: volatility.
Cryptocurrency prices are known to fluctuate wildly. Sometimes the market is up, sometimes it’s down, even within a matter of minutes. You can go to bed and get up to astonishing changes in prices. Ever since Satoshi Nakamoto created Bitcoin a little over a decade in the past, volatility has been a common side of crypto markets.
Bitcoin has played a major and main role in the cryptocurrency community. Being the first to reach on the scene, the Mother Coin has maintained its high position by market capitalization and is price a healthy chunk of the entire crypto industry.
Because of this sustained dominance, when Bitcoin appreciates or depreciates, it has a ripple impact on different cryptocurrencies. It is noticed that altcoins shed or gain value, sometimes more than Bitcoin itself. Bitcoin’s dominance in the market makes it a frequent catalyst for volatility in the crypto industry.
To quote an example, when Bitcoin recently suffered a pointy drop in costs, the cryptocurrency market additionally went through a correction. After hitting an all-time high of $64,800 on April 14, 2021, Bitcoin shed greater than 33% of its value by May 18. The market lost more than $300 billion (USD) in the course of.
Earlier than this, Bitcoin had been on a remarkable bull run. The cryptocurrency noticed roughly 1500% gains from the $3,800 it was price in March 2020 to its peak in April 2021. After such a robust trend, many began to query the potential for a market correction
