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- The Crypto market has been seeing various bearish trends lately, with the crowned crypto often fluctuating around the $30k mark and even below that.
- Analysts predict Bitcoin to slip further low, as much as to even $14k.
- Bitcoin (BTC) is currently trading at $30,482 and is up by around 2% in the last twenty-four hours.
Crypto Wobbling In The Volatility Waters
The overall crypto market has been witnessing a lot of downtrends in the past few months. The crowned crypto Bitcoin (BTC) price slumped to its lowest point since July last year.
And the trend initiated somewhere around the 2021 end, which sparked an unexpected sell-off season. So much so that it prompted famous entities like Kim Kadarshian and Elon Musk to talk about the price plunges of crypto and how that is impacting them.
Bitcoin (BTC), being the flagship digital asset, brought down the overall crypto market with itself. The recent Terra meltdown, where TerraUSD (UST) lost its peg and LUNA slipped to zero, also affected and shocked the crypto market and the community.
Until the initial last month, Bitcoin was consolidated around the $30k price range, but it broke even that.
Some experts even believe that Bitcoin (BTC) could slip as low as $14,000. Some reports disclose that the investors are coming back even though the primary altcoins are constantly going down.
According to analysts, the current upward momentum of Bitcoin might be limited, and a bullish price rally is one of the last things that investors should expect from crypto. And that the year 2022 could be similar to 2018, which was bearish for the crypto market.
Despite the volatility, some investors seem to like it. Primary crypto exchanges have highlighted that activities in the crypto market have surged extensively and that more and more professional investors are joining the space. And this indicated that no matter how many skepticisms there are about Bitcoin and the crypto industry’s price volatility, folks continue to adopt BTC believing in its future potential as a currency.
At the time of writing, Bitcoin (BTC) is trading at $30,482 with a market cap of $580,903,065,853 and is up by around 2% in the last twenty-four hours. It is prevalent at the position of the top digital asset in the entire crypto market.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
