Currently, The crypto market is experiencing mixed sentiments where Bitcoin and Ethereum declined while many other altcoins are trading with gains. However, even with the fall, Bitcoin was one of the trending coins in the market. Moreover, Shiba Inu also showed potential with some gains.
Cryptos like Solana and meme coins such as Dogecoin and Shiba Inu were trading with a solid gain. In the past 24 hours, Bitcoin was one of the top trading cryptocurrencies.
The crypto market cap fell by 0.55% and reached $940.64 billion. At the same time, the market’s trading volume was up by 9.45% and reached 82.4 billion.
As we have said, the market is trading with mixed sentiments, and it will be interesting to see how it performs in the next few months. The top gainer was Dogecoin, which climbed 11.84% and reached $0.06675. While the top loser was UNUS SED, LEO was trading around $4.35 with a decline of 12.15%, as per coin market cap data.
Key points
- The crypto market is experiencing mixed market sentiments; Bitcoin and ethereum are down, and meme coins are trading with a slight gain.
- Bitcoin, the top currency trading below the mark of $19,000
- The top gainer was Dogecoin, with a rise of 11.84%, trading around the $0.06675 mark.
Cryptocurrency Prices
Bitcoin and Ethereum
Bitcoin was trading significantly below the $19,000 mark for the whole day, but at midnight, there was a slight gain, and it successfully managed to break the $19,000 mark.
Overall, the price of Bitcoin slipped by 1.35% and reached $19,135.73.The lowest intraday price of Bitcoin was $18,617.55, where its volume was down by 2.65% and reached $38,723,244,395.
Ethereum Price is down by 0.74 percent trading around $1,323.18 in the past 24 hours. Ethereum was highly volatile in the past 24 hours and showed huge ups and downs the whole day. Initially, Ethereum was trading below $1300 levels, but it has managed to reach $1300 levels.
The price of Ethereum was down by 0.74% to $1323.18, where its lowest was $1270.20, and its trading volume also went up by 3.19% and reached $18,605,600,906.
Other Altcoins
Cardano:- Cardano surged By 0.28 percent, trading around 0.4628. Its last 24 hours’ trading volume increased by 29.32% to $1,007,218,873.
Solana
The price of Solana rose by 5.13% and went to $34.15.
Ripple
The price of Ripple also increased by 0.19% and reached $0.5001, where its trading volume was up by 41.13% and reached $7,598,478,496.
Binance coin( BNB)
It has shown a slight gain of 1.5% to $278.33, where its 24-hour trading volume went up by 4.67% and went up to $872,574,875. Cardano has also shown a slight up movement by 0.28% to $0.4628 and its 24-hour trading volume goes up by 29.32% to $1,007,218,873.
Meme Coins
Dogecoin:- Dogecoin has shown a vertical bull movement by 11.84% and reached $0.06711, and the 24-hour trading volume went up by 293.73% and reached $981,096,703.
Shiba Inu:
Shiba Inu was also up by 4.18% and went to $0.00001143.
Avalanche (AVAX)
Avalanche increased by 1.32 percent, around $17.93, and its trading volume increased by 1.64 percent to $280,279,097.
Aave (AAVE)
Aave surged by 0.14 percent at $76.95; in the past 24 hours, its volume increased by 0.14 percent to $76.95.
How will the cryptocurrency market perform in the second half?
2022 has not been a successful year for crypto so far; it has experienced extreme volatility and tumultuous times throughout the year. Just a few days ago, the ethereum merge took place, but the price of the top coins is constantly falling. On the other hand, meme coins are doing well, experiencing a slight gain in a few days.
Experts have mixed opinions about the future of cryptocurrencies in the second half of 2022.while some believe the market can be highly volatile others see the market quite stable in the other half of 2022.
Is It Safe To Invest In Cryptocurrency Right Now?
This is not the first time cryptocurrency is experiencing such a downfall. The unfortunate events in Past years significantly affected the crypto prices. However, no matter how the worst the situation is, the market recovered soon.
Investors are learning to deal with market situations and demanding better rules to regulate cryptocurrencies. Many times the market’s situations bring negative sentiments for investors. Investors are playing carefully now, taking a more apprehensive eye on which coin they want to invest in and becoming transparent about how much they are investing.
Currently, the market is bearish and expected to recover soon. In light of these circumstances, experts advise only investing 5–10% of your portfolio.
Conclusion
Whether it’s a downfall or a rising market, cryptocurrencies are one of the most profitable investment options. Moreover, they have enormous potential to grow in the future. However, investment is your personal decision, and we suggest you invest what you can afford.
FAQs
Q. What is the future of cryptocurrency in 2023?
Ans. After a heavy downfall in 2022, cryptocurrency will boom in 2023. As a result, the crypto market can experience sharp gains in the next few years.
Q. What is the future of cryptocurrency in 2023
Ans. Bitcoin currently is not performing well. But it’s one top cryptocurrency that can grow in 2023.
Q. Does crypto have a future?
Ans. Crypto is one of the biggest revolutions in the modern world. People are investing in the digital world. Experts believe that this industry will grow triple by 2030.
