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Crypto Week: The Market is Going Down Amid Hopes for Another Bull Run

The founders of Three Arrows (3AC) have finally surfaced in Dubai after the fund went bankrupt. They are hoping for a crypto super cycle while having no plans to put into action in the event of a massive correction and the LUNA plummeting to almost zero. So, even the largest funds with huge amounts of money under management could not guarantee investors’ safety from poor management.

Aptos has received another round of investments of $150 million. Aptos is trying to revive the Meta (Facebook) project to widely deliver Web 3.0. The project was put on halt after a series of unsolved issues with its regulation. Aptos is building a blockchain that would make  the introduce of Web 3.0 appropriate, while existing networks fail to enable this new protocol. Aptos may become a new superstar of the next bullish crypto cycle if the project is successful. Thus, investors are especially attentive to such projects. However, there are no guarantees of success, but active shilling of the new blockchain and new Move language for developers are certainly not to be ignored.

Bitcoin prices spiked to the upper margin of the channel and then returned to the inside. BTC prices are moving downward flagging a possible breakthrough of $19,000 and to continue further down to $10,000. ETH surged more than Bitcoin and returned to the channel. It is now moving towards $1090. The large spikes of ETH prices may mean the coin could suffer more than Bitcoin.

Onchain data signals to elevated interest from investors when Bitcoin prices are approaching $20,000. However, this support level is not sustainable as crypto enthusiasts may easily fall into the classic bullish trap that will leave them without any money to defend this support level. The key to becoming successful in the market is to preserve your sanity while other hot shots may be off their rocker. There are no reasons for a stable rally of crypto assets now. The Bitcoin price chart signals to a bearish market. So, adding cryptocoins to the portfolio could be considered a rather emotional move.