Bitcoin, the most important mover in the Cryptocurrency Market, has begun to regain its position, trading at US$45,000. Bitcoin, the ultimate mover in the Cryptocurrency market, has started to regain its position by trading above US$45,000. The next target for Bitcoin is US$50,000.
Asher Tan, CEO at CoinJar, a cryptocurrency exchange, stated that he saw many investors profiting from recent market movements. He said, “There is a trend towards conservatism among crypto users who jumped in at similar price points earlier in the year. Users are slightly trimming their holdings.”
Comparatively to previous months, Bitcoin’s daily volumes across all major crypto exchanges seem to have remained flat.
Janine Grainger is co-founder of Easy Crypto. She stated, “While recent price movements have seen increased activity in the markets,” but global trading volumes are much lower than they were when the price was $45,000 last time.
New investors are cautiously managing market volatility. This is evident after Bitcoin’s 50% drop from US$56,000.00 to US$30,000 in less than a week. However, experienced investors are actively investing on altcoins. Ether is the most popular choice, followed by Stellar, Cardano and Solana.
Altcoins that are among the top 20 cryptocurrency market caps are actually performing better than Bitcoin, while DeFi cryptos trade exceedingly well, with a range of 6% to 90%.