TL;DR breakdown
- Bitcoin has gone 21.7% down over the last 7 days
- Ethereum juggling to face the waves of the market crash
- Cardano obscured by big giant’s poor performance
- Solana is expected to hit the lowest before it shows a bullish trend
The cryptocurrency market is based on people speculating about what will happen. Traders made bets on whether the prices would rise or fall to make money. People make speculative bets that lead to a lot of sudden money coming in or going out, which causes high volatility.
The market is attempting to return to pre-crash levels, but global tension and speculation around the stability of the crypto market continue to be an impediment. It suffered a significant loss in a short period. The market dropped to a new low in recent years, reaching $1.51T. Many investors have lost everything due to the volatility and uncertainty around the currency. Therefore, making the currency highly volatile; it is not for the faint-hearted.
Bitcoin market value stifles to hold increased value but failed
Bitcoin has seen a challenging time since December 2021 and continues to be bearish over the last month. The speculations worldwide have restricted investors from injecting capital to help stabilize the currency. Recently it’s been too weak that predicting how long it will stay this way is difficult. The new changes might make it even better, but the recent crash has left it in the wrong way.
Bitcoin has resorted to a market value of $33,530, falling by 6.3% over 24 hours. The market is bearish and expected to be like that until a significant revamp could be seen; speculations know when!
After the recent dip, the Bitcoins market cap is estimated to be $34,937,012,387, while the trading volume is expected to be $639,721,298,562.
Ethereum juggling to face the waves of the market crash
Ethereum is the second-largest cryptocurrency trading right now, and it is bearish following the suit of Bitcoin and the overall market crash. If we look at the losses over the last seven days, they add up to 35.56 percent, which is a lot of money considering Ethereum’s position in the worldwide market. The last 24 hours have not been good, with a loss of 9.08 percent; the market value of Ethereum stands at $2,211.
The market is down, and it’s expected to stay that way until there is a significant change. After the recent dip, the value of Ethereum has dropped to $2,211 with a trading volume estimated at $21,810,868,203, and the market cap is expected to be $266,331,525,914 at this time.
Cardano obscured by big giant’s poor performance
It is quick-witted to say that market is taking every other cryptocurrency under the same sky. Unfortunately, the sky is in negative light right now. After performing well on and off, Cardano hits its lowest in recent times. It is down by 11.57% over the past 24 hours, and if we look at the last 7 days’ performance, it is 36% down the drain.
Cardano‘s value has plummeted to $0.9 after the most recent decline, with a trading volume estimated at $2,614,429,251, and the market cap is now estimated to reach $33,616,544,725.
Solana is expected to hit the lowest before it is bullish
It looks like Solana is on its mission to snatch butter out of investors’ mouths. Due to Solana’s recent speculations, investors were keen to invest in it to earn charming rewards on their capitals. However, the recent market crash has engraved most of the market’s capital to dump.
Solana’s new lowest market value is $84 and is expected to go as low as $75 in recent times. But there is hope, yes, hope. The market is expected to witness new highs after the recent dips.
Solana’s has fallen by 14.4% over the last 24 hours, and overall loss over the timeframe of 7 days is 41%, which is enormous. The current market cap is $27,003,453,885, with an estimated trading volume of $3,669,115,435.
Final Thoughts
Unlike real estate or the stock market, this market is not seen as requiring knowledge. Part-timers are primarily funding it. Some people join in the hopes of generating quick money, but when that doesn’t happen, they become impatient and decide to stop. Volatility is exacerbated because of frequent engagement and withdrawal, therefore, investing in cryptocurrency is only recommended if you are willing to take risks.
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