Total cryptocurrency market capitalization is now at its lowest point in six months. Since the beginning of 2022, the cryptocurrency market has fallen by around 26%. This is the third negative month in a row for the largest cryptocurrency: Bitcoin lost more than 45% from its all-time high of November 2021, with a drop of 21% in January alone.
Both the cryptocurrency market and equity benchmarks tumbled from highs, since the economy was affected by some difficulties such as the announcement of the rise in interest rates in March and the crisis between Russia and Ukraine.
“The bearish scenario looks more likely, which is exactly why I think we will see a surprising move”said popular Crypto trader Ed as part of the immediate outlook comments.
For its part, trader and analyst Anbessa reiterated earlier demands for $38,500 to proclaim that the corrective phase is complete for Bitcoin.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
