.png){kind=logo}
After the market surge, which was triggered by FED comments, on 25th Oct, crypto markets have been stabilizing from 26th, where most of the coins have been shedding off some of the gains made. As of writing, Ethereum (ETH) and Bitcoin (BTC) are some of the coins already losing most of the previous gains.
Ethereum (ETH) and Bitcoin (BTC) price performance over the last two days has been stable and has not surpassed this week's ATH set on Tuesday. The price has been dropping slowly, and as of this writing, Ethereum was 3% down, while Bitcoin has plummeted 2.3% for the past 24 hours.
Crypto experts are of the opinion that ETH and BTC might be preparing for another crash in the next few days. The recent surge was not driven by major factors like a massive adoption of the coins but by the comments that FED made on Tuesday this week.
The fact that inflation regulations will be relaxed does not mean that we are out of the recession yet. The market will still remain gloomy until when inflation starts declining in the next few days.
According to crypto analysts, the crypto market is not out of the wood yet because a global recession is expected to hit harder in the next few months. According to experts, the recession is going to hit the hardest sometime in 2023. This means the inflation will keep surging for the next few months, and the impact on the stock market will be severe.
Therefore, Ethereum (ETH) and Bitcoin (BTC) might post another decline in the next few months. Some experts say Ethereum might go below $1k, and Bitcoin might soon trade below $15k. Therefore, the future still looks bearish for these big players.
Ethereum (ETH) and Bitcoin (BTC) are facing tough competition from new and mooning crypto projects. Bitgert (BRISE) and Centcex (CENX) are two crypto projects that are giving ETH and BTC tough competition in both product development and price growth. These are projects that address key limitations in the crypto market.
Bitgert (BRISE) and Centcex (CENX) have been delivering their roadmaps faster than these big players. But the fact that Bitgert (BRISE) and Centcex (CENX) have rewarded investors better than BTC and ETH this year is what makes them tough competitors.
So, Bitgert (BRISE) and Centcex (CENX) will be coins to watch in the next few months as their outlook is still bullish.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
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 about the financial risks involved here.
