Home Finance Crypto-currency market remains stable as Bitcoin and Ethereum maintain support levels

Crypto-currency market remains stable as Bitcoin and Ethereum maintain support levels

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The crypto-currency market remains stable as Bitcoin and Ethereum maintain support levels. Bitcoin is trading at $23,000, while Ethereum prices remain in the high $1,600 and low $1,700 range. The global crypto-currency market capitalization remains above $1.1 trillion, suggesting good near-term sentiment; however, the lack of market activity is driving the bears.

Crypto-currency markets remain stable, interest in crypto-currencies has never been lower.
The past two months have been disappointing for bitcoin, ethereum and other major crypto-currencies. After moving sideways for most of June and July, August continues to show little price action in the crypto-currency markets.

Additionally, Google Trends data reveals that crypto-currency interest and search volume are at their lowest levels in a year, signaling that the market will likely continue to trade sideways for the rest of the year.

The good news is that, even with the drop in interest, Bitcoin and Ethereum are holding up relatively well at current prices, and volatility is starting to decrease. A decrease in market volatility could spark renewed interest in retail and institutional investors to open positions in crypto.

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Additionally, with the recent announcement of a partnership between Coinbase and BlackRock, and the launch of upcoming derivatives for Bitcoin and Ether by CME Group, crypto could be poised for a spectacular performance in the fourth quarter of 2022 or the first quarter of 2023. If the global economy can show signs of recovery and the Fed eases monetary policy, we could see a significant shift in sentiment for crypto currencies.

Long-term potential is still bullish

After every bear market comes a bull phase. The key to making gains in a bull market is to hold on during the tough times, scale back your investments and invest in forward-thinking projects that have long-term potential.

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With the upcoming Ethereum network merger in September, we could also see a small bullish phase in a few weeks, making Ethereum a stock to watch in September 2022.

Also, with the low crypto-currency prices, this could be a great option to look at niche projects such as Metaverse crypto-currencies, NFT projects, DeFi ecosystems and Web3 tokens that could explode in value during the next bull run.

Virtual real estate in the Metaverse is at an all-time low, and if you’ve been thinking about investing in digital plots, some great projects to consider include ApeCoin’s Otherside Meta, The Sandbox, Wilder Worlds, Decentraland, Axie Infinity.

Also, Chromia projects like Mines of Dalarnia and My Neighbor Alice have huge long-term potential. They are still in the early stages of development for those who want to start a cryptographic game in the Metaverse.

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