$22k Bitcoin Price, $1 Trillion Market Cap: Is This The Bear Bottom?

So bitcoin had a 7% pump recently, just recently I was talking about bitcoin being at a possible $16k, then fortunately, it pumped $20k. I didn’t think it will hold it up for that long, now it’s at $22k. It’s a great one, at least the market is above $900 Billion, just may be we are going to see another $1 Trillion market cap. The crypto market and the crypto industry has been cold recently, seeing, so I will say that the crypto market is doing pretty well.

While we are excited about bitcoin’s 7% daily pump, let’s not forget that this makes it 15% of its weekly pump. The top 2 cryptocurrency in the world, which are bitcoin and Ethereum are having a great time being up today. Solana is doing great, I was shocked to see Solana at $37 yesterday, I remember when Solana was $27 few weeks ago. Is this a sign? Do we need to start getting excited because just may be the down trend is about to end?

But then, more crypto companies are laying off their staff, more crypto companies are coming out to file for bankruptcy, will this put more fears into crypto traders. Well, this year recorded one of the highest years for bitcoin outflow out of exchanges, people are beginning to take the not your keys not your coins phrase more seriously by probably putting them in a DEX wallet. You can put them both in a Cold or hot wallet. But it’s always advisable to put in a cold wallet for maximum security.

While I was typing this post, the total crypto market just reclaimed its $1 Trillion market cap price. This is great, if this is the bitcoin bottom then we can all agree that bitcoin had done a great job at this point. With everything that happened in the crypto space within the past days and weeks, this was enough to crash the price further down in the past. It was faced with Luna/ UST crash, top crypto platform crash followed with bankruptcy filing, then more crypto companies filling for bankruptcy. But instead, people are learning to be more careful and still buying.

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