Hello read.cash community, wow, these last few hours we have been experiencing in the crypto environment, where the uptrend has been broken by a large correction has caused many to panic, literally, at the possibility that it is not just a correction but the start of a more pronounced downtrend.
I must say that in the face of such facts, my position is one of waiting, I do not believe that this is the beginning of a steep fall of all cryptocurrencies, although obviously almost all of them are currently down in price. The reality is that I expect Bitcoin, Bitcoin Cash, among many others, to continue their upward climb, and that it would be logical to wait for a good time to enter this decline before it resumes its climb.
In the whole cryptographic environment it is best to always keep an eye on the future, but without failing to analyze the past, I will explain better:
If we analyze the whole historical process of Bitcoin since its creation, we can see that it has been bullish over the years. It is easy to realize this if we take into account that when it emerged it was barely worth a few cents on the dollar but currently it is above 40k. That's quite a high price, really.
Not getting carried away by negative information is also something important to consider, let's keep in mind that in the course of these years of existence of cryptocurrencies, many have claimed that the days of cryptos are numbered, and that sooner rather than later they will disappear, and there is no doubt that they have been totally wrong.
The reality speaks for itself, in the most recent months an impressive amount of capital has entered the crypto environment, and we would not be talking about hundreds of millions of dollars, but billions, few businesses are able to attract these amounts, so, I see far away those statements of some people who could swear that cryptocurrencies are going to disappear, how wrong they are.
There is no doubt that DeFi has had great significance in this increase in capitalization related to an increase in the belief of the cryptographic environment by some renowned institutions, which have entered with much capital and directly has benefited all of us who make life here.
Defi is supported on the Ethereum Blockchain, for that reason Ethe has gone in a few months from a value of less than 200dollars per unit to more than 1800dollars, so this has been a great benefit for the entire crypto environment, no doubt. But, thanks to the importance acquired by the whole environment of Decentralized Finance since last year, there are currently some Blockchain that are with their own DeFi projects, such as TRON, the EOS blockchain apparently soon will also be in the same, in addition to Cardano, which may lead us to think that in the short or medium term these coins may be in a new range of market capitalization.
And we can not leave aside that Binance has in the crypto world a great project already working, which also allows the development of smart contracts and with this, of course, DeFi. And this is Binance Smart Chain, which I have particularly used and it goes very well, works fast and with really low commission costs.
For its part, we still have a lot of opportunities in Blockchain-based social networks, where we can share original content and make profits in Cryptocurrencies, such as read.cash, which allows us among many other things to monetize in the form of Bitcoin Cash, one of the main cryptos within the market, while sharing important information, but also while reading and learning from the many other users who make life on this platform.
So we are not lost by being here, in fact, I would venture to say that we have come a long way, and that what awaits those of us who have been working with cryptocurrencies for a long time are much better times.
Success to all, and patience, I am sure that with the passage of time everything will be better in the crypto environment.