Is this the end of the boom on Bitcoin and cryptocurrencies?

Is this the end of the boom in the cryptocurrency and Bitcoin markets?

Investors all over the world have been asking this question for several days. In recent days, Bitcoin, and with it also other cryptocurrency projects, have experienced a significant decline in value. Could it mean the end of the boom in this market? Of course, no one knows the answer to this question because no one knows the future. Bitcoin has experienced the biggest daily and weekly drops in its history. The last time such a sharp decline was during the crash in March 2020, which was related to concerns over the spread of the coronavirus epidemic. It is certain that we are dealing with a correction. Usually, the rate corrections on the chart are three-step, where the second degree is a rebound of declines.

end of bitcoin boom 2021

Correction or the end of the bull market? How deep will the drops be?

As I wrote before, it is difficult to fully predict the future. I do not have a crystal ball from which I can tell how the course will behave further. Especially on such a liquid and volatile market as cryptocurrencies and the first one, i.e. Bitcoin. However, analysts and experts agree that the correction could go deeper and stop at either around $ 40,000 or even lower at $ 37,000. This is due to the already mentioned 3 degrees of correction and the so-called Fibonacci retracement, which determines the depth of corrections.

What's next with the Ethereum and other cryptocurrencies?

The chart and the price of Ethereum followed Bitcoin, and at times it even behaved worse than the first cryptocurrency. According to the information I have obtained, there are many indications that Ethereum as a blockchain network is starting to lose followers. This is largely due to high transaction fees. So cryptocurrency users and fans are looking for alternatives. One of them may be the Lisk cryptocurrency, the concept of which is very similar to the concept of Ether. It is a younger project, but it also gained many supporters. Interestingly, the Lisk price chart has been behaving much better in recent days than Ethereum or Bitcoin. This may be evidenced by price lows that gradually appear higher and higher. However, the still negative impact of declines in Bitcoin also affects this cryptocurrency. Below you can see both graphs and compare them.

ethereum chart
lisk price

For more than 6 years, he has been interested in cryptocurrencies, tokens and blockchain, as well as other modern technologies like artificial intelligence. I have been actively investing for more than 10 years. I have developed hundreds of highly substantive articles and publications for this and many other external portals.