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Bitcoin Reaches $22,000

The cryptocurrency market has shown significant improvement over the past week. Major crypto assets posting gains of up to 70 percent.

Bitcoin Reaches $22,000 iBase Trading.
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The cryptocurrency market has shown significant improvement over the past week. Major crypto assets posting gains of up to 70 percent. On Monday, the most crucial cryptocurrency token, BTC, had a rally that caused it to surpass the $22,000 barrier.

The cryptocurrency giant, meanwhile, was outperformed by altcoins, as Polygon soared by more than 13 percent. In the past twenty-four hours, the price of Ethereum climbed by more than seven percent to pass the $1,450 threshold. The total value of all cryptocurrencies on the global market increased by more than 3 percent and surpassed $1 trillion for the first time. After twenty-four hours, the entire volume of the cryptocurrency market reached $70.38 billion, representing an increase of more than 7 percent.


Since the beginning of this year, the cryptocurrency industry has been mired in a rut due to several factors. Including failed projects, growing inflation, concerns about geopolitics, and impending fears of inflation and rate hikes. Participants in the market believe it is too soon to declare that the worst is over for the sector. Since the cryptocurrency market is heading for a prolonged winter that may extend even further if more negative news continues to filter.

A Shift in the Bitcoin?

Before investing in Bitcoin, market professionals recommend that potential buyers educate themselves on their fundamentals and steer clear of “catching falling knives.”

During a bear market, investors should learn how to avoid getting cut by falling knives, according to Sathvik Vishwanath, Co-Founder, and CEO of Unocoin. He continued by saying that it is vital to comprehend and research the business worldwide.

He noted that understanding the underlying technology, the token’s utility, and the team behind it might be beneficial in evaluating the tokens. Evaluating tokens can be extremely difficult. Investors who purchased tokens after the project release have witnessed more reliable returns.

Even if some businesses fail and file for bankruptcy in the short term. Others believe the long-term outlook for cryptocurrency is bright and encouraging. According to Khaleelulla Baig, Co-founder, and CEO of Koinbasket, a few more cryptocurrency ventures may fail shortly. This is especially true for those in the DeFi market organized on high-interest returns. In addition to that, they will witness strengthening of restrictions.

Market Volatility

According to market analysts, cryptocurrency prices are expected to continue to decline in the foreseeable future. Investment prospects in the gaming industry and the Metaverse are recommended for high-risk investors.

Sathvik estimates that a bear market often sees a 70% decrease from where it was at its peak. If you’re a long-term investor, this sounds like a great time to get out of investments that aren’t working for you. KoinBasket’s Baig predicts a correction of up to 30% in the next quarter. Which he expects to take place within a month or two after the current market volatility. According to him, investors should focus on layer one projects currently on sale at a substantially reduced from their peak values. Bitcoin, Ethereum, Polkadot, and Chainlink are just a few examples of this type of initiative.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Angela Lopez stepped into the Cryptocurrency world after her Journalism career and hasn't looked back since, writing about anything crypto-related. She started working with iBasetrading in October 2011.