Bitcoin, Ethereum, Avalanche, Polkadot Daily Price Analysis – 20 December Roundup

Roundup crypto bitcoin

TL;DR Breakdown

  • Market receding further, lost 0.48%, though bitcoin and Ethereum add gains.
  • Bitcoin, on the positive side of the trajectory, gains 0.49%.
  • Ethereum turns bullish, adding 0.18%, after a prolonged period of blows.
  • Avalanche gains 4.79%, while Polkadot loses 3.19%.

The global crypto market situation is uncertain because new changes occur daily. This December has shaken the market to its roots as hard times have prevailed. It was completely unexpected for the investors to witness this many challenges as the situation changed. The changes in the market came one after another, and if there hadn’t been occasional support, the market would have crashed.

NFTs and support in the form of legal acceptance for crypto supported the wavering market, which was weak due to hard blows in bans and inflation. Though the next goal is metaverse and Web 3.0, the market will take time to recover. Even though the market is going through hard times, it is clear that the future belongs to crypto and blockchain system. The ongoing hard times test how hard blows the crypto market can bear. These will prove significant for the market when it assumes the leading position.

Though the situation for bitcoin and other coins might fluctuate, the stability in the market means that the investor trust is resuming. The hopes for market revival are high, and it will resume if the customer trust resumes as in previous times.  

BTC resurgence?

The last 24 hours remained hopeful for bitcoin as it showed signs of improvement. The previous few weeks have shown fluctuations on its side as it kept oscillating between highs and lows. Bitcoin started its journey at the high of $59K and then came low to $46K, which has been a truly trying time.

December kept it fluctuating as there was no steadiness in its movement. The changes were mainly resultant from changing situation of the US economy and Omicron. The more the cases of Omicron variant grew, the more investor trust eroded, resulting in liquidation. There has been support in capital investments and changes in interest rates. NFTs are another addition that could save the market from losses.

Bitcoin, Ethereum, Avalanche, Polkadot Daily Price Analysis – 20 December Roundup 1
Source: TradingView

The last 24 hours added to the value of bitcoin as it gained 0.49%, while its weekly progress amounted to 0.47%. Its price amounted to $46,979.19, while its market cap is estimated to be $887,958,976,818, which has shown improvement since the previous losses. The fluctuations in the market have impacted bitcoin to a greater extent because of the market share that bitcoin has in the market.

The trading volume for bitcoin during the last 24 hours was $29,592,422,517.  

ETH’s growth, but for how long?

Ethereum has gained during the recent resurgence as growing with bitcoin. The recent regulation news regarding it has also helped add to its value. If we look at the past 24 hours, it has gained 0.18% in the last 24 hours while adding 4.82% in the last seven days.

The current price for Ethereum is $3,939.24, and its market cap is estimated to be $467,425,276,721. The improvement in growth means that it will be able to give tough time to its competitors and regain its position. If the journey in a positive direction continues, Ethereum’s main struggle would be for regaining the old price. Once it happens, the next feat would be to keep it steady.

Bitcoin, Ethereum, Avalanche, Polkadot Daily Price Analysis – 20 December Roundup 2
Source: TradingView

The recent months have shown that it speedily gained new heights but couldn’t maintain itself at that position. A peek at trading volume for the last 24 hours also indicates an enhancement of $20,979,433,163. The question that the investors face is that of how long will Ethereum’s growth continue.  

Avalanche continues to maintain momentum

Avalanche has continued to gain even when other coins are facing liquidation. Avalanche’s blockchain system is mainly there because of its reason for existence, and this might have been the cause of its growth. It has continued impressively, continually adding to its bulk in the past few days.

Bitcoin, Ethereum, Avalanche, Polkadot Daily Price Analysis – 20 December Roundup 3
Source: TradingView

The last twenty-four hours added 4.79% to its growth while it has gained 43.05% in the last seven days, which are significant for its bulk. Its current price in the market is in the $112.14 range, while its trading volume during the last 24 hours remained at $1,929,592,451.

Polkadot continues to recede

Polkadot is one of the revolutionary blockchain systems in the market, but its coin has been badly affected by the recent recession. The latest change is that of 3.19% loss during the last 24 hours while it has lost a total of 8.58% during the last seven days.

Bitcoin, Ethereum, Avalanche, Polkadot Daily Price Analysis – 20 December Roundup 4
Source: TradingView

The current price for Polkadot is in the $23.92 range, while its market cap is estimated to be $23,625,527,961. Its chart for recent days shows a depreciating trend because of the divestment resulting from investor uncertainty. If we look at its trading volume for the last 24 hours, it is about $902,920,973.

Final Thoughts

The market is still recessive, even though the leading coins are showing improvement. This time the most affected are smaller coins witnessing losses due to investors’ uncertainty. December’s passing might change the situation, known for volatility. The recent month has brought shaking changes to the value of the market, and some coins have shed their significant values. The game for leading coins is still because they are on their way to gains and might come back to their previous positions soon.

The investors wait for the calm times because no one wants to lose their capital, which is why they are uncertain. The hopes might be ripe when January comes, and the market recovers. If it happens, customers will add further to the market.  

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Muhammad Ali

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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