We get to see fluctuation in the prices of cryptocurrencies like it just got back up to $50k from the slip of $47k on Tuesday. On the flip card, dogecoin got hype in the price when Elon Musk said that Tesla would accept your payments in meme-inspired cryptocurrencies. Surprisingly, dogecoin got the hype of at least 14 per cent in just a few minutes, and its market capitalization reached $25 billion.
Other cryptocurrencies are trying to gain the hype back that they were enjoying last month. But unfortunately, the quest of previous hype put them in new troubles. Some cryptocurrencies, including Ripple (XRP), Etherium (ETH) and Solana (SOL), lost their value up to 5% on Monday.
Despite this fluctuation, some analysts are confident that these cryptocurrencies will regain their value before the end of this year. Some of the analysts also predicted that the end of the year would be record-breaking.
Not only bitcoin, but the whole crypto industry faced losses of more than $100 billion total. Due to these losses, the crypto market has pushed down to $2.3 trillion, which is a significant fall. As far as bitcoin is concerned, it reached a high of $69k last month. The analysts are divided between two opinions. Half of them think that the bitcoin will have to face a fall, but the other half is of the opinion that bitcoin will recoil with a new high this year in the end.
The latest updates say that the bitcoin market has faced a loss of 3 per cent in 24 hours, and a total of 13% has dipped in the past week, which is a lot. Dogecoin and Shiba Inu also dipped 3% yesterday and over 15% in the past seven days. Unfortunately, the current value of the crypto market in the world is $2.3 trillion, and there is no assurance of recovery in the value of the crypto market soon.
It seems that cryptocurrencies have been stabilized at $2.08 trillion. The top fifty altcoins who helped in stabilizing the market are Algorand (Algo), FTX token (FTT) and Solana (SOL). The total crypto trade volume dropped by 26 per cent. Altcoins are trying to regain the significant losses they had to face on Tuesday. Algo is preparing to launch its decentralized governance in the coming week, and that’s why it has beaten the top 20 capitalizations of the cryptocurrency market.
On the flip card, SOL gained 21 per cent, FTT gained 15 per cent, and LUNA gained 9 per cent. But LINK and UNI dropped by 3 per cent, unfortunately.
Last words:
Although bitcoin value is still below $50k, the investors are expecting a bright future in the market. If you are thinking of investing in Bitcoin or any other cryptocurrency, you must beware of the crypto scams that can blow away your mind. If you have been a victim of such scams, Du0Lab5 is always here to recover your lost funds. So, what are you waiting for then? Contact Du0Lab5 now and get your funds back!
