Likewise, the constant fluctuations in the prices of the main cryptocurrencies as Bitcoin (BTC) and ethereum (ETH), made this investment a mandatory cause of analysis and study deep for those who wish to venture into this ecosystem. While the cryptocurrency bear market offers an opportunity to get hold of these assets, today the ecosystem is in full recoveryso the question arises: Is crypto winter over?
In this context, some of the assets that registered a notorious rise in its values during the first semester are: ethereum (+60.1%), Litecoin (+49.2%), XRP (+40%) and Cardano (+15.89%) and spearheading the market is the Bitcointhe largest coin by market cap and that he managed to overcome US$30,000 so far this year with a meteoric recovery of more than 80%; all this, bypassing the banking crisis in the United States and the onslaught of the Securities and Exchange Commission (SEC) of that country against those assets.
Bari also mentioned coins like Litecoin (LTC), which positions itself as a “interesting option, since it has a behavior similar to that of Bitcoin“, because shortly his “halving”, where the issuance of LTC is halved and makes this currency “increasingly scarce”.
While, Santiago Amata financial YouTuber and university professor, said that the most interesting projects, according to his own investments, are: Bitcoin, Ether, Litecoin and Cardano“because of what is behind those cryptocurrencies,” warned the expert, coinciding with Bari in three projects: BTC, ETH and LTC.
Mauro Libermana Crypstation partner and Blockchain expert, commented to this medium that the second semester “it will mark a stage of price consolidation” in the cryptocurrency market. However, as you rightly commented, there are some assets that are preparing to leave “early form” of the bearish cycle.
Among those assets, Liberman mentioned XRP that has been attracting the attention of many investors and even, recalls the expert, was the third most traded crypto in “volume and market depth terms” in Q2 2023, trailing only BTC and ETH.
Liberman also agreed with Amat and Bari that there is another interesting coin for the second semester and which obtained the fourth best liquidity score: is about LTCand mentioned that with the third halving of the Litecoin blockchain (the Halving), yesSignificant upward movements are expected for this asset.
Bitcoin: what price
This Tuesday, July 4, the BTC is listed on $30,967 and stays above the barrier of the $30,000meeting some resistance in the $31,000. However, the experts consulted by Ámbito maintain that the trend for the market “is bullish”.
The data indicates that the trend of the crypto ecosystem is bullish in the medium/long term, says Bari and adds: “In the last six months, the ecosystem has been gradually recovering and the prices of cryptocurrencies grew” despite the turmoil mentioned above.
Regarding the price of BTC for this year, the CEO and Founder of Satoshi Tango announced that, in the short term, the price of the asset will vary as it has been doing up to now. “We cannot say if it will go up or down,” she warned, however, what the trend for the first half of the year shows is that it is bullish. “Between January 1 and June 30, BTC rose 83.7%. It started the year at $16,000 and ended the first semester above $30,000.”
Amat, comments on the fight of the Bitcoin for breaking the $30,000. “It seeks to reach US$31,000, It is something very positive that the price has not dropped below US$30,000it reached US$29,800 and it went up again, it went down a bit and it went up again”, he maintains and adds: “So the $30,000 floor may be the new market floorthat is a technical analysis that also indicates that the outlook can improve a lot”.
The three experts consulted by this means expose the positive signs which is showing the Bitcoin. A very important aspect that Liberman highlights is “the capitalization of this coin that reached a new peak in 2023”, reaching values that have not been seen since April 2021 (58%).
Cryptocurrencies: The end of the crypto winter?
With a troubled world economy and a high inflation rate and the countermeasures of the world’s central banks to counteract it, risk appetite declinedwhich had a direct impact on cryptocurrencies, since large capitals migrated to safer investments.
This would be changing, for now. However, consensus among analysts is cautious when it comes to signaling if the crypto winter is over or is it some luck crypto summer; Today, the upward trend that was registered during the first six months of 2023 would seem to indicate that the cold in the crypto market is waning.
In this sense, Bari maintains that in recent times there has been an interest and great support for the cryptocurrency ecosystem. In addition, he points out that there are many projects that have grown greatly in recent months, such as Bitcoin, Litecoin, Bitcoin Cash or Ethereum. “This is a clear sign that the market is in recovery and in a bullish phasebut no one can guarantee that the crypto winter is over,” he added.
For Libermanthe crypto winter “seems to close its last chapters”as long as the market can maintain total capitalization above $1 trillion.
And Amat concludes, for whom this year it could be said that “crypto winter is over”, although he is cautious and maintains that “It is not a year in which we are going to see everything green and there are rises, I don’t think the bullmarket is back, but it can be said that the real market ended”. According to Amat, because this is 2023 it is a year of consolidation by the boss who puts together the halving of BTC.
According to the page 99Bitcoinsthe most robust cryptocurrency in the world has been left for dead 474 timesthe last of them on April 22 and another six throughout 2023. However, the Bitcoin continues to show strength and attract the attention of big financial playersso it is more alive than ever and the most popular cryptocurrency on the market continues to fight to position itself as a weight asset in the economy of the future.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
