Cryptocurrency has stayed true to its name in terms of valuation as no one can seem to crack the cryptic prediction of what will happen next.
There is no denying that 2022 has been a difficult time for all cryptocurrencies however Bitcoin has been the most affected as it lost almost 65% of its valuation.
Remember, Bitcoin (BTC) was once valued at over $65,000 in November 2021.
Cryptocurrency enthusiasts and investors were caught off guard in 2022 by the crash of Terra Luna; however were not surprised when Do Kwon was arrested after committing $40 billion in security fraud.
The collapse of FTX only added additional doubt on the visibility and future of crypto.
Just as Bitcoin was struggling to recover the Silvergate Bank Fallout took place which instead of causing the value of BTC to dip instead caused it to rally.
Traders and analysts were once again caught off guard however, were done so in a positive manner.
The fallout of Silvergate Bank left a void in the crypto space which is now being filled by small and regional upstart banks as reported by The Wall Street Journal.
Academics and researchers are torn on the outcome of 2023 with some predicting a bull run while others are predicting a bearish outcome.
Bitcoin was valued as slightly below $27,557 on March 29 at 10 AM UTC however, has been able to rally to slightly above $29,000 on March 30, 2023, at 7 AM UTC before stabilizing at $28,638 at 11:17 AM UTC.
The previously thought resistance level was believed to be $28,000 however, BTC has been able to surpass that threshold.
The global cryptocurrency market capitalization is trading higher than normal at around $1.16 billion.
It is important to note that as Bitcoin continues its rally that most altcoins including Polkadot (DOT), Litecoin (LTC), Ripple (XRP), and others have slumped. Most would consider the recent performance that has seen BTC rebound over 20% in a few weeks enough to consider the market to be bullish.
Business professionals and technology enthusiasts see the market as being Bearish at this moment. The downward performance of altcoins suggests that many transactions are taking place so that Bitcoin can be purchased.
This suggests lending to the insight that altcoin and being liquidated to purchase Bitcoin. Once the liquidation comes to an end the result would be a severe dip in the valuation worse than we have ever seen before.
Bank of America has predicted that Bitcoin will be valued as low as $5,000. Benjamin Cowen of Into the Cryptoverse has suggested that it is a good time to sell before the devaluation occurs so that investors can purchase during the dip.
Those that decide to hold onto their Bitcoin need to remain brave as Bitcoin will rally stronger than ever before in 2024. The reason behind this is the global recession that the entire world currently finds itself in.
Based on the information that has been made available I would presume that we are heading into a bull trap rather than a bull run. However, time will only tell.
A new cryptic crypto is set to be released once it has reached 1 million email subscribers. Not much is known about Signuptoken.com except for the fact that a single email can result in you becoming a millionaire.
The aura surrounding Signuptoken.com is indeed cryptic since the only thing that participants need to do is to register their emails to get legal inside information.
The premise is quite simple: Signuptoken.com wants to build a community before launching its crypto. This makes sense as many altcoins are successful due to their community presence. Asking for an email address is not necessarily the worst thing in the world.
Given the various presales that have and are taking place where the true valuation cannot be determined until the crypto goes live, it is indeed refreshing to see a crypto that requires no liquid investment before launch. Which just makes sense.
Website: https://www.signuptoken.com
Twitter: https://twitter.com/_SignUpToken_
Telegram: https://t.me/SignUpToken
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.