The saga on crypto currencies continues in 2022. The year started very well for most of the crypto currencies, however it crashed again. Bitcoin, the beacon of the crypto market, has recently suffered a setback.
Why is Crypto market suffering?
This recent drop is related to stable coins. Stable coins are coins that people invest in to keep steady investments, as the name suggests. This means that if you buy USDT for $20, you can expect it to be worth $20 tomorrow and $20 a year from now.
Will Bitcoin price go up again?
The law of supply and demand influences the price. If demand remains low due to people’s fear of losing money while investing in bitcoins, and supply remains high due to individuals selling their bitcoins, the price will continue to fall.
Is it the right time to invest in Crypto?
It may be the ideal time to enter the crypto industry now that the price has dropped. Because crypto is so high-risk, it’s best to invest only a small amount of money to avoid losing too much if the crash continues.
If there’s one thing we’ve learned about crypto in the last few years, it’s that it always comes back. Although the past cannot guarantee the future, the fact that many people believe in it, store their money in it, and use crypto as future payment gateways shows that many people believe in it.
Many new businesses have begun to accept cryptocurrency transactions. For example, new online casinos in Asia have begun to take cryptocurrency for both deposits and withdrawals. You can find more information about this here. If such corporations continue to invest in crypto technologies, demand will continue to rise, as will investor confidence, causing the price of crypto to rise again.
Blockchain Scalability Concerns
Although blockchain has always been associated with scalability concerns, there is now someone on the horizon who is working to fix that. Optimism is a new initiative that is assisting Ethereum in achieving better scalability without the need for complicated setups or a loss of speed or security. You can read our guide about optimism crypto.
The 5 Newest Crypto Currencies in June 2022
Among the top-dogs of Crypto, Bitcoin and Ethereum, which are currently at attractive prices for buyers, there are some new currencies that are generating some interest. Some of these are:
- Stepn – Move-to-earn Crypto Token (long-term value)
- DeFi Coin – DeFi Staking Coin
- Lucky Block – Play-to-earn Crypto Game Token (has Daily Rewards)
- Tikka Token – Wealth Management Coin (Growth Potential)
- Avalanche – Ethereum Competitor
The Future of Crypto
Even though various variables contribute to the cryptocurrency’s ongoing instability, many people believe that blockchain will survive this phase of testing. We’re probably past the point of wondering whether crypto will succeed or not; the question now is when, not if, prices will rise again. Another essential topic to consider is which crypto coins will survive; some will undoubtedly vanish, while others will see their value surge.
Source: Plato Data Intelligence: PlatoData.io
