- Since yesterday, the global market cap has dropped slightly but still improved by 0.37%.
- Bitcoin grazes $49k, falls back after a 0.76% depreciation.
- Ethereum drops back to $3,950 after staying above $4,000 the whole night.
- Binance suffers a 0.22% loss, dropping to a $529.84 price.
- Near Protocol (NEAR) and Iota (MIOTA) are on the top of the gainers’ list after 20.67% and 18.23% gains, respectively.
It seems that this morning, we are witnessing the resurgence of yet another bearish run as the top cryptocurrencies begin to show signs of dropping in value once again. The crypto market released a collective sigh of exasperation as the top three cryptocurrencies Bitcoin, Ethereum, and Binance Coin. All show signs of dropping from the small bullish run we saw yesterday. Will another bearish run begin? Will the top cryptocurrencies lose the ground they worked for in the last twenty-four hours, or will things begin to look up once more?
The crypto market cap has not suffered too much, but it would be smart to anticipate more price drops if another bearish run is upon us. At the time of writing, the crypto market cap rests at $2,266,239,348,344, about a billion less than yesterday. It isn’t a huge cause of concern just yet, but forecasters would be wise to assume that it’ll only go downhill from here on out if we take the past bearish runs into account. The new possibility of another bearish run whips a question into investors’ minds, when will the cryptocurrencies recover?
Can Bitcoin reach $50k before the end of the month?
There’s always a risk of the cryptomarket’s continuous suffering for long periods as trading volumes, and market values fluctuate up and down. This year is no different, there is no telling when or how long the trend of losing will continue, but it sometimes isn’t enough to break investors’ hopes. Those who dabble in cryptocurrency regularly know that it’s unforgiving, but it brings questions to mind, can Bitcoin recover up to $50k in the remaining ten days of 2021?
Currently, $50k seems so close yet so far as Bitcoin recedes to a $48,530 value. Bitcoin had barely managed to reach $49,450 when the losing trend began again. Now, having lost almost a thousand dollars in price, Bitcoin displays a 0.76% loss in market value, in turn affecting its market cap to a $918,465,796,745 value. Its trading volume suffers 18.973% more than yesterday, reaching $24,482,018,443.
Ethereum and Binance pulling the short end of the stick
Like Bitcoin, Ethereum has been losing harder than ever before, having lost nearly 1.41% in value within minutes. Ethereum trades at $3,965 at writing, though it has lost nearly $75 in value. Its market cap rests at a low of $471,442,720,540, while its trading volume has sees intense losses of 29.73% down to $14,071,822,525.
Binance hasn’t been suffering as much as Ether but is in a tug of war with the crypto market, losing as much as it is gaining. BNB had touched $537 just two hours prior, but now it trades at $532.41. Its market cap is currently $88,813,552,820, while trading volume witnesses a bearish trend of $1,354,056,069.
Near Protocol and Iota show off bullish runs.
This isn’t the first time Near Protocol has dominated the gainers’ list. Thanks to its services offering a layer-one blockchain designed to run computing platforms, it has kept itself going. It has often been on the losers’ list but not as often. Today, it tops the bullish run with 22.34% gains, raising its price to $10.37. Its market cap and trading volume have risen accordingly up to $6,434,990,581 and $709,876,018, respectively.
On the other hand, Iota has been closely following Near Protocol’s footsteps up the gainers’ ladder. Iota is a distributed ledger, but it isn’t a blockchain, which sets it apart from the rest. Its uniqueness in the market has helped its token MIOTA expand exponentially, and now, it is second on the gainers’ list at a $1.29 price.
As usual, the thought that runs through investors’ minds is; when will it end? The bearish run has been going for so long that it’s become boring for the crypto market. People usually dabble in cryptocurrency to earn money and keep themselves rejuvenated. Still, there’s not much one can do to feel good about their crypto in a bearish market that shows no signs of relenting. We look forward to how the crypto market wraps up the year in nine days.