Bearish crypto market and its negative effect.
The cryptocurrency market, after being at its peak for almost a couple of years, finally crashed and fell to its lowest point in May. The market crash is dragging on and lingering in the slide of the entire cryptosphere. The market spams are surely causing a lot of panic among the investors and surely have a negative and bearish effect.
On the contrary, there are some investors who undoubtedly think that the market downturn is temporary and that this is the right time to take the opportunity to invest in cryptocurrencies at low and affordable prices. Based on such an idea, a millennial announced the sale of his house in exchange for bitcoins.
New York millennial makes the bold decision to put her house up for sale.
Ronen Segev, a resident of New York City, announced that his house, valued at 1.8 million dollars, is for sale in exchange for bitcoins or Ethereum. Ronen Segev said that although the market is in a bearish state, I believe in cryptocurrencies.
For a long time, Ronen Segev has been investing in cryptocurrencies. After making an investment in Grayscale Bitcoin Trust Corp. in 2020, the value of his crypto assets has currently decreased by around $1 million. And by doing this, he hopes to offset the decline in cryptocurrencies and even double his money.
Ronen’s successful stint in Cryptocurrency.
Previously, Ronen had a positive experience when trading cryptocurrency. In 2019, Ronen sold his expensive and luxurious piano for bitcoin and Ethereum. He exchanged the cash he had for more bitcoins and Ethereum. When he had a sum of $1 million in crypto currency, the pandemic caught the world and only had a positive effect on the crypto sphere. The value of the digital assets of his skyrocketed to $2 million. With the value increased, he went on to buy an apartment in the center of Paris. The current estimate for the same apartment is $3 million. Ronen Segev grew an investment from $1 million to $3 million over the course of a few years by using institutional and progressive investment strategies.
The pretty obvious fact about the crypto market crash is that billions of dollars in tax benefits have just disappeared. But, to see the positive side of this, many investors take the opportunity to buy the cryptocurrencies at a lower price, which as a result has the potential to revive the market.