- After a short bearish run, the global crypto market cap falls by 3.06%.
- Bitcoin drops 3.00% in value after grazing $52k.
- Ethereum falls harshly below the $4,000 mark after a 3.44% efflux.
- Binance drops $20 in value but continues to flourish above $550.
The worst has come to pass three days before new year’s eve. The crypto market positively flourished yesterday, recording high influxes of up to $2.43T, thanks to the thriving prices of all our top significant coins. With Bitcoin, Ethereum, and Binance on hopeful pedestals, there was hope in the crypto market that the bullish run would lead to a happy new year, but this wasn’t the case. According to CoinMarketCap, the recent rises in the crypto market have failed us again.
Investors had high hopes for the new year that were, unfortunately, crushed by the recent bearish run that has thrown the crypto market cap back to $2,320,183,467,448, a 3.06% decrease from yesterday. Effluxes in the global crypto market cap is no laughing matter because they are usually worth billions of dollars in losses. All cryptocurrency investors want the crypto market to thrive, yet their patience keeps being tested. With constant disappointments and fluctuations, the new year isn’t looking too bright for the crypto world.
Bitcoin loses control in the bearish market.
As usual, Bitcoin has again failed to meet the high expectations set over it by the crypto market. It surprises no one to see Bitcoin’s values in the red today as it loses all the influxes it worked for over the last week. As it turns out, the bullish runs have not done much justice to Bitcoin’s graceful ascensions but have failed to overcome the solid end-of-the-year bearish runs. Bitcoin investors are undoubtedly frustrated by now, but investing in the crypto market, especially Bitcoin, is a risky business.
Most investors know what they’re getting into when it comes to the crypto market because they cross over to the crypto side, seeking something thrilling. We all want to be entertained, we all want to be thrilled, the crypto market offers a form of entertainment to some extent. No one can complain about Bitcoin’s terrible performance anymore because it has become the new norm. We hoped that the year’s end would bring the crypto market some good luck, but it seems that we were wrong. After the Christmas influxes, we have yet to see anything significant and long-lasting.
At the time of writing, Bitcoin engages in a new battle royale against the recent bearish run that has rattled the crypto market again. However, this is nothing new. Bitcoin currently trades at a value of $49,235, with its market cap hovering around $931,751,348,565. Its trading volume is flourishing by 51.88%, rising up to $31,544,163,062.
Ethereum and BNB continue into a downward spiral.
Ethereum has been suffering big time this month; it has never seen such terrible luck in a long time. As the second top cryptocurrency, Ethereum is meant to be a leader, charging into battle with its subordinates following close behind, but these days, it’s just not having a good time. Although Ethereum suffered less than Bitcoin in the first bearish run of the season, now, it hasn’t been making notable strides forward. It keeps reverting to its old ways.
Currently, Ethereum is trading for $3,915, suffering in the bearish market alongside Solana and Cardano. It was the first among the top 5 to show a red chart, considering how its price fell in the last week or so. As for Ethereum’s market cap has seen effluxes of 3.12%, dropping to $466,229,480,942. Similar to Bitcoin, Ethereum’s trading volume thrives after a 50.98% influx up to $14,769,370,302.
As for Binance, the third top coin has not suffered as much as the others in the top 10 cryptocurrencies. It has kept its head above the water with a 1.34% influx. It currently trades at $552.13 and is one of the few cryptocurrencies in the top 20 to show green charts.
There are still three more days to go until 2022. 2021 has been a blood-sucking but fruitful year for the crypto market, where Bitcoin and all the other cryptocurrencies showed their highest values ever recorded. Perhaps things will change in the days to come before 1st January 2022, with all our top cryptocurrencies striding into the new year with their heads held high.