Bitcoin soared to a new all-time high of $118,339, up 6.11% in 24 hours, while Ethereum climbed 7% to around $3,000. The total crypto market cap rose 5.24% to $3.65 trillion, with trading volumes spiking 47.14% to $208.23 billion.
π- Focus on meme coins with strong communities and social media presence.
π - Set strict profit-taking and stop-loss levels to protect your investment.
π - Stay updated on market trends and news, as meme coins can move quickly.
1/ In a future economic downturn, Bitcoin might initially drop alongside other assets due to its growing correlation with traditional markets.
However, if the crisis involves increased money printing or currency devaluation, it could see a recovery, potentially acting as a hedge.
2/ The Chinese stock market crash (2015-2016) saw Bitcoin remain stable, averaging around $238, without a significant crash linked to the event. In the C-19 recession (2020), Bitcoin dropped to $4914 in March but recovered to $28,956 by year-end, suggesting resilience post-crisis
1/ Bitcoin's behavior during past economic crises shows variability. During the European debt crisis (2010-2012), its price surged to $29.60 in June 2011 but crashed later that year to about $5, with unclear ties to the crisis itself.