Almost all the altcoins traded with some losses on Monday morning. In this situation, traders need clarification about whether it is the right time to enter the market. Therefore, staying ahead with the crypto news update is essential to make investment decisions frequently.
The most trending crypto in the past 24 hours is Viberate, a cryptocurrency designed for the music industry. The global crypto market cap was down by 0.81% to $928.1 billion, while the crypto trading volume increased by 22.7% to $44.8 billion.
The top-gaining crypto was Maker, which rose by 5.1% to $769.09. At the same time, the top losing cryptocurrency was Chiliz, which also declined by 9.03% to $0.2183.
Key points
- The crypto market news is in the red zone, with most cryptocurrencies trading with losses.
- The top-gaining crypto was Maker, which rose by 5.1% to $769.09.
- The global crypto market cap was down by 0.81% to $928.1 billion, while the crypto trading volume increased by 22.7% to $44.8 billion.
Cryptocurrency Prices
Bitcoin was highly volatile throughout the day, where it faced massive pressure and went from $19,200 to $18,976, the lowest trading price during the day. But later on, the price was balanced to its range.
Bitcoin fell with a slant margin of 0.76% and reached $19,167.06, where its trading volume also increased by 23.2% to 22.5 billion.
Ethereum has also experienced dips and traded around the strike price during the day. But, late at night, the price moved from $1296 to $1272. But, it regained its price and reached the $1297 level.
Overall, the price of Ethereum declined by 1.14%, reaching $1293. But the trading volume has increased by 34.4%, reaching $8.3 billion.
Other Altcoins
Ripple went down by 4.9% and reached $0.4512; its trading volume went up by 17.2% to $1.6 billion.
Cardano’s price declined by 2.01% to $0.4233, while the 24-hour trading volume increased by 39.8% to $435.5 billion.
Solana prices decreased by 1.3% to $32.39 in the past 24 hours.
Meme Coins
Dogecoin went down by 1.5% to $0.5979, and its 24-hour trading volume was down by 23.06% to $206.3 million.
Shiba Inu prices declined by 0.43% to $0.00001112.
Why is 2023 a pivotal year for cryptocurrency?
As of now, It’s been a terrible year for crypto news. All the major cryptocurrencies have been trading in the red zone for the past two weeks. Prediction for the coming months is also not favorable. Hence most investors are betting on their future in 2023. Experts believe 2023 is a pivotal year for crypto.
The entire crypto ecosystem has witnessed continuous fall affected by several macroeconomic events. Crypto winter is near the end, and we can only expect something better after the end of the year. One of the significant cryptocurrencies, Bitcoin, has been trading in the red zone for the past few weeks.
Bitcoin has traded below the $20,000 level in the past two weeks. Although crypto news market crashes are not new, there have been several moments when we experienced such crashes in the past. However, many investors are now moving with new tokens that are doing better than the known coins.
What experts believe the crypto market will perform in 2023?
Will the crypto market recover in 2023? There are many predictions for the future of cryptocurrency. Most analysts believe that crypto will rebound after a significant loss as the new regulations come into force.
The use of Central Bank Digital Currency (CBDCs) can bring a new era of revolution, economic value creation, and hardware manufacturing deals for digital coins. For the end of 2023, we can have a bullish trend for crypto.
Globally we are witnessing more adoption of crypto and its presence at events and conferences. As a result, More discussions came live about crypto and blockchain. These lavish events about crypto were held in different regions across the world. Additionally, Crypto prominence expanded across various industries in 2022.
In 2023 we can expect better refinement of regulations and laws about crypto. However, crypto volatility is the main reason why people fear investing in cryptocurrencies.
Conclusion
Despite the current downfall of the market, crypto remains one most lucrative investment option for anyone. Crypto has more considerable potential that is waiting to be explored. The crypto market can shift anytime, and these changes need to be monitored quickly to make benefits and avoid losses. If you are an investor, we suggest you do better research before making any investment decision.
FAQs
Q. What will the crypto market be worth in 2023?
Ans. Analysts believe that the crypto market can recover in 2023. Bitcoin can hit the price of $25000 by the end of 2023.
Q. Is it worth buying crypto now?
Ans. Investing in crypto is currently risky. But at the same time, it can be profitable if you do it by diversifying your portfolio.
Q. Is investing in cryptocurrency a good idea?
Ans. Indeed, cryptocurrencies are one of the most profitable investment options if you like dealing with risks.
Q. What is the biggest risk with cryptocurrency?
Ans. A cryptocurrency price can change anytime. For example, an investment worth 1000 dollars today could be 10 dollars tomorrow due to crypto volatility.
Q. Who invented cryptocurrency?
Ans. An anonymous person or group, Satoshi Nakamoto, launched the world’s first cryptocurrency Bitcoin in 2009.
