There is good news for you crypto lovers, you must be happy – Archyde

Jakarta, CNBC Indonesia – Quite encouraging news is coming out of the crypto market, which was where most of the price was at the end of last week cryptocurrency traded in the green zone.

Start data from CoinMarketCap From Sunday (01/30/2022) at 1:20 p.m. WIB only Tether, BNB and Terra will be traded in the red area. The rest managed to sit in the green this afternoon.

Bitcoin rose 1.15% to a price level of US$38,143.24/coin or the equivalent of Rp. 548,629,478/koin (assuming an exchange rate of Rp/US$14,383), while Ethereum rose 2.7% level of US$2,606.15/coin or Rp. 37,485,298/coin and Cardano is up 1.79% to US$1.07/coin (15,390.24 Rp/coin).

The following is the movement of the top 10 cryptocurrencies based on their market cap last Sunday.

Bitcoin is tending to remain around the $37,000 level, and several other cryptocurrencies have also started to stabilize and strengthen after oscillating over the past few days amid global stock market volatility.

Analysts are also looking for signs of a possible reversal (Rebound) on the stock market, which can encourage investors to buy crypto again, especially since the crypto market is now at a low level, i.e. traders who want to take positions at low prices (buy on dip) tends to be large.

Several so far dealer still seems to be a dilemma between choosing exchange or crypto as both are also at low levels.

However, risky assets still have room for correction as investors tend to be undecided amid continued concerns about tighter monetary policy from the US Federal Reserve or the Federal Reserve (The Fed) and tensions between Russia and Ukraine.

“Investors are still likely to exit the US stock market given expectations of Fed tightening,” said Alex Kuptsikevich, an analyst at FxPro. CoinDesk.

“If the selling continues, more investors will reduce their positions in risky assets, and cryptocurrencies could be hit first,” added Kuptsikevich.

Additionally, given the ongoing macroeconomic headwinds, some analysts are concerned Krypto-Winter Future, similar to 2017-2018.

However, it seems Krypto-Winter It’s here, marked by Bitcoin’s nearly 40% drop from its all-time high of around $69,000, printed in November 2021.

However, some analysts say that the correction in the crypto markets is likely to end at least in early February.

Edward Moya, senior market analyst at OANDA said that the correction in cryptocurrency ends when certain conditions are met. The conditions are that the bitcoin movement can be stable in the $40,000-$50,000 range and the recovery of several alternative cryptocurrencies (Altmünze) mainly.

“The crypto market will recover if bitcoin movement can stabilize in the $40k-$50k range and some bounce back Altmünzesaid Moya, quoted from CoinDesk, Thursday (1/27/2022).


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(chd / chd)

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