HomeCrypto“Are the Bulls out” or just irrationality?

“Are the Bulls out” or just irrationality?


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At the time of writing Bitcoin was sitting at $21,129.11 after being stuck in the $17k range for several weeks. Ethereum has also seen a more than 22% jump over the last 7 days making this past week the best in the crypto space in two years. ETH currently trades at $1,568.30.

The recent uptick is impossible to pinpoint, nor does anyone know exactly if is a temporary or the expected return of the industry, but some of the reasons may be:

Not everyone is convinced Bitcoin’s upward momentum is here to stay, however. One analyst told Bloomberg that recent trading patterns suggest prices are unlikely to go past $21,500, pointing to “deeply overbought short-term readings [that] challenge positive momentum.”

The Stock market has also seen a huge uptick in 2023 mainly due to inflation numbers and the FEDs announcement of lowering the interest rate increase.

Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications.

In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.

Recent surge in MANA came following the latest update which claims to improve social features in the game. This includes a new user profile, avatar highlight, differentiated name tags and more. In October 2022, the company announced the Genesis City project which will offer the users a birds eye view of the entire map

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