Polkadot, the brainchild of Ethereum Co-founder Gavin Wood, is now one of the world's leading blockchains. It is unusual in that it supports several linked chains using a Proof-of-Stake consensus process. Indeed, one could argue that the project's linked character has helped it gain a substantial number of users over the previous few years.
Kim Dotcom, an entrepreneur and activist, wrote on Twitter on June 5, 2022, that this 'may be the most important thread' he ever writes about a major global collapse. In the thread, Dotcom talks about the economy of the United States and says, 'The U.S. is beyond bankrupt.' Dotcom also talked about the 'Great Reset' and how a 'New World Order' wants to 'shift into a new dystopian future where the elites are the masters of the slaves without the facade of democracy.'
While stocks and the majority of cryptocurrencies fell, the Polkadot price fell precipitously on Thursday and Friday morning.
After starting April on the back of a significant negative pullback, Polkadot's native cryptocurrency DOT has made a 5-day rebound. Its price action, however, was approaching a previously tested resistance zone underpinned by a Fibonacci retracement at the time of publication.