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Cryptocurrencies have had a rough year, shedding $2 trillion in market value from the peak of a significant surge in 2021. With the most recent crypto crash, most crypto enthusiasts were concerned about how to survive the ongoing crypto winter.
However, the recent upward trends in Bitcoin and Ethereum's prices, followed by the majority of other altcoins, have everyone wondering whether the so-called crypto winter period is coming to an end and the crypto market bulls will take over soon.
Bitcoin had its best month in July since the end of last year, and its price rose around 19%, bringing positive sentiment to the crypto market. Crypto experts speculate that if Bitcoin stabilises over the next few weeks, we might assume that the worst of the crypto winter is finally behind us.
The prolonged bear market situation has discouraged many crypto newbies. Yet, experienced investors understood the true meaning of holding onto their investments and used this time to acquire new cheaper options while the prices were comparatively low.
However, investors are hopeful that the recent turmoil is coming to an end. Crypto prices have been on the rise as investors become more positive about the crypto sector, due in part to the recent rebound in stock markets in the United States, Europe, and Asia. Since the beginning of the year, cryptocurrencies, notably Bitcoin, have been closely mirroring the stock market's performance.
It seems it might be Ethereum taking over the leading position towards the recovery of the crypto market since its recent gains outperformed Bitcoin's increase. This may be largely connected to the upcoming Ethereum merge event next month when the blockchain will transition from the proof-of-work to the proof-of-stake consensus mechanism.
Ethereum Merge is one of the most anticipated events in the crypto industry this year, and for a good reason. While the network will have improved transaction speeds and lower costs, it will also become much more environmentally friendly by reducing its carbon footprint by over 99%.
Nonetheless, despite the positivity surrounding the Ethereum merge, it is important to remember that the crypto market is nowhere near what it was last year. Despite recent good trends, cryptocurrency prices are still in distress. Bitcoin and Ethereum have both fallen more than 50% this year, with a long way ahead towards full recovery.
It could be considered that since the market is likely to continue the year on a positive note, it's a convenient time for new projects to be launched as many investors are considering joining the industry and looking for potential buying opportunities.
A new crypto project currently in presale is PrivaCrip (PRCR). There has never been a bigger demand for anonymity and security solutions within and outside the blockchain ecosystem, and PrivaCrip aims to provide such a platform. The Privacrip network aspires to be the world's finest multi-faceted protection-enabled blockchain network.
To find out more about the PrivaCrip project, you can visit this article.
Presale: http://join.privacrip.io/
Website: http://privacrip.io/
Telegram: https://t.me/PrivaCripOfficial
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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 scams, 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 here.
