Will stability in the prices of cryptocurrencies come?
Having experienced the worst bitcoin crisis in the last three months, investors around the world are still in doubt whether it will be worth trading cryptocurrencies, even some of them have already lost confidence in investing in this digital asset.
Elon Musk’s decision not to accept cryptocurrencies in his businesses also played a big role in the drop in cryptocurrency prices.
While some experts believe that the crypto markets will recover from the current crash in the coming months, others think that investor caution will persist in the short term.
The expert’s opinion
Dileep Seinberg, founder of MuffinPay expresses in a very hopeful way that cryptocurrencies will rise again. He forecasts that by August 2022, the crypto winter should be over. By the end of December or January 2023, Bitcoin may hit an all-time high of $70,000, Seinberg added.
The correlation between cryptocurrencies and financial markets is growing. Cryptos have responded along with global financial markets which have also been hit due to weak global signals. With inflation set to persist for about two years, experts say an impending economic downturn may continue to weaken crypto markets.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, warned that other countries could follow China in cracking down on cryptocurrencies, which could hurt values, and growing concerns about Bitcoin’s power use could also push down. prices.
She has expressed that: The direction of cryptocurrency behavior is far from clear, as some crypto fans may see the recent dips as an opportunity to buy cryptocurrencies for a lower price and when they recover, sell cryptocurrencies for a higher value.
Which cryptocurrencies have increased in value?
The price of Bitcoin has risen 3.03% in the last 24 hours, according to Coinmarketcap. Some investors took advantage of this and decided to make cryptocurrency exchange of Bitcoin on Changelly. Currently the largest cryptocurrency has a value of $21,218.15 but is still significantly down from the highs of $64,000 in April of last year.
The second largest cryptocurrency, Ethereum, has also increased in value in the last 24 hours, as have other popular coins such as Dogecoin and XRP. Ethereum is up 5.36%, trading at $1,338.27 at the time of writing, while Dogecoin is up 8.08% at $0.06343. Shiba Inu, also up 4.39% to $0.00001084
All these cryptocurrencies are beginning to recover after the worst drop in three months and it is possible that this increase will also reach others such as Tether and Tronx, depending also on the cryptocurrency overview.
Will cryptocurrencies really recover?
The first thing to take One thing to remember when asking yourself this question is to be aware that the crypto market is and will continue to be volatile. This is what you always have to keep in mind when investing in cryptocurrencies.
With this perspective clear, it is a bit complex to say whether the price of bitcoin will recover or not. Therefore, users looking to buy Bitcoin may prefer to do their own due diligence and research before investing. While investing in cryptocurrencies it may be preferable to invest only what one can afford to lose.
Regarding the response of the experts, there are many different opinions, therefore, the best thing in these cases is to carry out a previous investigation or simply wait for the behavior of the prices of cryptocurrencies over time.
conclusion
According to some more positive experts, they state that it is highly likely that perhaps by the end of this year 2022, the nightmare of falling cryptocurrency prices will already be over. But the opinion of other experts is contrary to this hopeful statement.
However, investors have taken a wait-and-see stance as early indicators are just beginning to slowly recover and others are still in the red. Despite all this, the enthusiasm for cryptocurrencies still persists globally.
