The current trend in the digital token market is alarming
The fall of cryptocurrencies such as Bitcoin and Ethereum that has been experiencing this 2022, especially in recent weeks, has generated fear among investors betting on digital tokens.
Just consider the drop of BTC in the last few hours, 3.12%, which so far this year amounts to 13.92%, while ETH has lost 2.59% of its value in the last few hours, while so far in 2022 it has lost 18.44%.
As expected, this negative effect has had consequences for other cryptocurrencies, such is the case of BNB, XRP, Solana, Cardano, Luna, and Avalanche, but the market drop does not seem to have reached its lowest point yet.
Due to its privileged position as the most valuable cryptocurrency in the market historically, Bitcoin’s gains or losses are reflected in the rest of the digital tokens, which right now could be the worst possible news.
Crypto-investment experts do not rule out a drop from the average $40,000 level to the $30,000 level, a scenario that is alarming for all stakeholders in the subject.
“The signal for a break of the mild upward trend would be a consolidation below the $38,000 per bitcoin levels. If the bulls capitulate, the first cryptocurrency could be pushed into the $32,000 to $35,000 range without much resistance,” Alex Kuptsikevich, FxPro senior market analyst, told Forbes.
Although there is no ideal formula to follow in case the cryptocurrency decline continues, there are some things you can do, such as diversify your investment portfolio, invest in more established cryptocurrencies, be informed of recent trends, keep liquid savings, and use a crypto exchange with low fees and simple trades.
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