As crypto price fluctuation persists, it has become important to fashion a way out for investors and crypto enthusiasts who require investment guidance as cryptocurrency becomes an increasingly popular investment option. It is also important for investors to be armed with clear and unambiguous knowledge of the cryptocurrency market. Moreso, it is pertinent for crypto enthusiasts to consistently stay abreast of insightful investment analysis and market trends.
In this article, we will analyse the potential risks and rewards of various cryptocurrencies, while providing investment strategies to cryptocurrency opportunists. We will also offer tips on how to avoid the crypto market volatility causing price fluctuations and chart a cause for the token with a long-term growth potential.
Bitcoin, the world's first and largest cryptocurrency, has been through a rollercoaster ride in the past few months. It reached an all-time high of almost $65,000 in mid-April 2021, only to crash by over 50% in a matter of weeks. Since then, Bitcoin has been struggling to reclaim its lost glory, hovering around the $20,000 mark for some time now. The recent surge in the price of Bitcoin, which saw it reach $28,000 recently, has also now been watered down, due to crypto price fluctuations as Bitcoin slipped down to $27,000 again. This, however, still represents a 19% growth in the last 30 days for Bitcoin, an increase which has been attributed to several factors, including the recovery of major banks which had earlier faced threats of liquidating.
One of such banks is the cryptocurrency-focused Silver gate Bank which shut down its portal for crypto payments on March 3 and declared liquidation on March 8. Two days later, startup lender Silicon Valley Bank made an announcement about its inability to fulfil commitments. On March 12, federal authorities shut down Signature Bank. All this happened in quick succession, which resulted in BTC falling more than 10% from the week of March 6 to the week of March 10. However, the U.S. government revealed its plans to pay off debts from Silicon Valley Bank and Signature Bank over that weekend.
Ethereum, the second-largest cryptocurrency by market capitalization, has also been facing its fair share of price fluctuations. It reached an all-time high of over $4,300 in May 2021, only to drop by almost 60% over the next few weeks. Since then, Ethereum has been on a slow and steady path of recovery, currently hovering around $1,700. After surviving the US bank crisis, Ethereum (ETH) surged to more than $1,800 in value, only to slide back to 1,700 as of Monday morning, due to crypto market volatility.
Notwithstanding the slight bleep, both Bitcoin and Ethereum are predicted to maintain the post bank crisis surge, albeit navigating the murky waters of crypto price fluctuations.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.