Cryptocurrency Market (A Brief Overview)
What is the Bear market in cryptocurrency?
A bear market in crypto is caused widespread investor pessimism about the likelihood of crypto prices dropping. It leads to a general decline in broad market indexes in the financial market. Over the past few months, the crypto market has been in a bearish position with more than a 20% decrease in crypto prices. The high rate of inflation is affecting the stock market itself, and thus the price of cryptocurrency is also being affected. It is predicted that as inflation goes down the market should turn from bearish to bullish.
What happens to Cryptocurrency when the market crashes
Cryptocurrency market crashes happen when certain sentiments surrounding a particular cryptocurrency change for the worse. Several factors like depleted reserves, bad news or rumours, black swan events, macroeconomic problems, and more are the usual culprits in the event of a crypto market crash. However, if a cryptocurrency coin has good fundamentals and a strong utility or use case, there is a higher chance of them surviving cryptocurrency market crashes.
Market Capitalization and Cryptocurrency Market Prices today.
Bitcoin
As of the time of writing, Bitcoin is now $19,359/BTC. Its Market capitalization is $372 Billion, which makes it the highest-selling bitcoin and the most expensive coin
Ethereum
Ethereum is an alternative to bitcoin that was launched in 2015 and has grown to become the crypto with the second highest capitalization after bitcoin. It currently trades at $1,383 per ETH as at 2022
Tether
With a market capitalization of $68, 461, 359, 437 and currently trading at $1. It may not look like much, but it has a lot of potential to increase.
USD Coin
The USD coin was launched by the Centre Consortium (a group of companies that includes Circle and Coinbase) in 2018 and currently has a market capitalization of $55 billion, Binance Coin (BNB)
Binance currently trades at $272 and has a market cap of $44billion.
XRP
XRP is one of the earliest Cryptos to be created. It was created by Ripple in 2012. XRP CURRENTLY HAS a market cap of 19.6 billion dollars and is worth $0.39
Binance USD
Binance USD has a market cap of $20.5 billion and is pegged to the US dollar as well. it also mostly trades at $1/BUSD.
Cardano
Cardano was established by one of the founders of Ethereum and that is what makes it reliable. The coin has a market cap of $15.9billion and currently trades at $0.47.
Dogecoin
DOGE currently has a market cap of $7.8billion and is currently sold for $0.059/Doge. Its price tends to be affected by Elon Musk’s tweets and activities.
How to Invest in the Cryptocurrency market
You can invest directly in crypto by using a coin exchange such as Binance or Coinbase. Both are good exchanges that offer detailed analysis including statistics, projections, and resources on several coins that you can invest in with as little as $1 or whatever local currency you have if you are not in the US.
The Tectum (TET) Token is a significant improvement to other 3rd generation crypto choices. TET allows you to create and mint SoftNotes.
If you are not up to buying crypto yourself, you can invest in a company with high exposure to crypto such as a crypto mining company. Tectum has its own blockchain and is an excellent high-speed alternative. Another option you have is to invest in a Bitcoin-focused fund such as an exchange-traded fund (ETF)
However, don’t forget that the rule of thumb is that you should only use the money you can afford to lose in the crypto market due to its volatility.
