Cryptocurrencies

It seems like the bears have taken control of the crypto markets as Bitcoin, the king of cryptocurrencies, fails to breach the crucial $50,000 level. It tumbled as much as 8.40% yesterday to $45,773. The research note by CompareBroker shows that December is actually a month when you do see higher volatility for the Bitcoin price. According to their research, in December, BTC’s volatility has been up nearly 86% for the last 10 years hence it is kind of normal if we continue to see bigger whipsaws for the BTC price during this month.

As for the current BTC’s price action, the drop in Bitcoin prices on Monday pushed the digital coin below its 200 days average which is negative news for crypto enthusiasts. Similarly, Bloomberg Galaxy Crypto Index dropped about 7.40% which shows that sentiment in broader crypto markets has taken a hit.

The current price movement of cryptocurrencies refutes the premise that the blockchain ecosystem has fully matured, resulting in less severe market volatility in the future. This, however, does not appear to be the case. Similarly, some investors perceive digital currencies to be an inflation hedge, and rising consumer prices helped to strengthen crypto markets last week to some extent. Crypto markets, on the other hand, were unable to maintain the surge.

THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

What Shiba Inu price needs to do to trigger a breakout

What Shiba Inu price needs to do to trigger a breakout

Shiba Inu (SHIB) price is seeing a bit of a pullback and could drop even further in search of support after bulls failed to keep their act together during the recent rally and began grasping at early profits. 

More Shiba Inu News

Former Ripple CTO is dumping millions of XRP, traders beware

Former Ripple CTO is dumping millions of XRP, traders beware

XRP price shows promise that it is ready to trigger a massive run-up as the first half of the year comes to an end. There are three reasons why investors should be bullish on Ripple.

More Ripple News

Is Cardano’s Vasil hard fork a ‘sell the news’ event?

Is Cardano’s Vasil hard fork a ‘sell the news’ event?

Cardano price looks like it will face a massive amount of selling pressure that could lead to choppy price action. However, the fundamental side of things looks good for ADA considering the recent update regarding the highly anticipated Vasil hard fork.

More Cardano News

New sources affirm USDD is on a path to collapse like Terra’s UST

New sources affirm USDD is on a path to collapse like Terra’s UST

Tron launched its stablecoin USDD in May, at the same time as Terra’s sister tokens LUNC (formerly LUNA) and UST were imploding. The stablecoin recently detached from its $1 peg, sparking fears of a crash. 

More Terra News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP