Category: Cryptocurrency News

According to the details, this year’s bearish market trend is the worst in history for BTC and other coins. It records many BTC traders engaging in panic sell-offs even with losses to ensure they are not drowned. Volatility is one attribute that marks digital currencies. Unfortunately, it’s a trend that could cause most inexperienced investors to suffer huge losses of funds with their crypto holdings. In most cases, many issues could trigger a bear market. Though some experienced players would use a bear trend to build up their crypto portfolio, a lingering bear market is never profitable. The 2022 trend seems to be taking the worst historical turn. Glassnode, a blockchain analysis company, has revealed an unfavorable overview of the 2022 bear market. Furthermore, the firm recorded many contributory factors for the prevailing crypto market price drop. Related Reading | Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending? The analytic firm reported on crypto market trends tagged A Bear of Historic Proportions. The report, released on Saturday, explained how Bitcoin’s price fall pointed to 2022 as the worst year for BTC. Some of the listed factors for the BTC bearish trend in 2022 include the following: Bitcoin’s methodic drop beneath the moving average (MA) of 200 days. Cumulative realized losses. Negative shifts from BTC realized price. According to Glassnode records, BTC and ETH prices became less than their previous all-time high cycles. Such a plunge has never happened in the history of cryptocurrency. Glassnode report indicated the severity of the bear market in 2022 as BTC went below the 200-day MA half mark. Notably, the first and apparent red alert of a bear market in the fall of BTC’s spot price beneath the 200-day MA. Also, it could go beyond the 200-week MA when the situation becomes critical. BTC Price Falls Below 0.5 Mayer Multiple, MM Additionally, the analytic firm displayed the extreme conditions of the crypto bear market as the spot price goes beneath the realized price. With the situation’s outturn, many traders are selling off their crypto tokens even as they make losses. In its illustration, Glassnode revealed that BTC plummeted below 0.5 MM (Mayer Multiple). This level makes it the first price fall to such an extent since 2015. Usually, the MM is a measure of price changes when it’s above or below the 200-day MA. Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead? The implication means over-buying if it’s above or overselling below. Also, the data from the company shows an MM of 0.487 for the 2021-22 cycle against the lowest recorded cycle of 0.511. The firm maintained that this is a historic occurrence as it’s uncommon for spot prices to go below the realized price. Finally, with an overview of all the negative values in the crypto market, the analytic firm concluded that the market has transited to a capitulation state. Featured image from Pexels, charts from TradingView.com and Glassnode

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If Ethereum moves to a proof-of-stake (PoS) method of maintaining its network, as planned, it will remove the need for miners, slow demand for graphics processing units (GPUs) and dramatically reduce energy requirements, Morgan Stanley said in a report Monday. Ethereum developers are hoping that the Merge will happen by September and potentially as early…
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During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped […]

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https://15lovenft.com/ ​ What do you guys think? I do a lot of marketing/social work and I love the crypto space, but I am suspect of this project.. submitted by /u/dylan_laffey27 [link] [comments]

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ETH has managed to remain above the $1,200 level on Tuesday, despite an increase in price uncertainty in crypto markets. BTC fell below $21,000 in today’s session, as the global crypto market cap fell by as much as 2% earlier today. Bitcoin Following a marginally bearish start to the week, downward pressure intensified in today’s […]

The American Express executive said that their firm is bullish on crypto and is actively working to incorporate more crypto-related services in the future.

The long-term objective for the company is to examine other potential metaverse use cases such as health care, consumer, retail, media and financial services.