As the mainstream continues to understand what web3 technologies are, cryptocurrencies and their allied technologies continue to be the never-ending mystery that they have been for the past decade.
However, many ask: when will cryptocurrencies go back up? Mainly because of the psychological attachments, they have cryptocurrency prices and mainstream lexicons that define the web3 industry.
The truth is, nobody knows when exactly when cryptocurrencies will go back up. Studying the past shall give humanity an idea of when cryptocurrency prices shall return to the so-called normal.
We must first understand what happened to cryptocurrency prices last year before any projections in 2022 can occur.
They shall be considered serially.
Cryptocurrency Prices Are Experiencing a Correction
With the short-minded perceptions that guide newbies, cryptocurrency prices are still in profit as compared to the same as in late 2020. The observation alone brings the obvious truth about web3 technologies: they are the fastest-growing assets known to humanity. It is based on a year-on-year analysis of price correlations between regular assets and web3 assets.
That correlation brings to the fore an understanding that volatility is the principal governing principle behind web3 assets. With such scenarios, it is then possible to understand the price correction mechanisms that govern web3 assets.
Demand Still Rules The Cryptocurrency Markets
Many factors point to the rising demand that exists within the web3 industry. The first of these is Bitcoin’s dominance. As Bitcoin continues to rule…