But we've just seen LUNA and UST, which had a combined market valuation of $58 billion a week ago, plummet to almost nothing. LUNA's market worth was $40 billion two days ago. It is currently worth a few hundred million dollars.
Bitcoin had a great run from October 2020 to the first quarter of 2021, and then had another bull run from July to November 2021, following a 61.8 % Fibonacci correction. Since then, Bitcoin has been under constant negative pressure with stable price movement.
Blockchain was created in 2009.
After 11 years, the digital ledger has become one of the most talked-about and touted technologies.
Blockchain applications are still in their infancy, and industry-wide standards are likely still a few years away.
The Fidelity analyst says he finds it noteworthy that despite Bitcoin’s significant price correction from its all-time highs, HODLers appear unfazed. His models show that the number of Bitcoin held for more than 10 years is holding steady at 13%.
Bitcoin is currently trading at a historically low price, with good support. The one variable is the stock market, which has a significant impact on BTC's price fluctuation.