Bitcoin Bearish? Top crypto rally ahead of Ethereum breaking $22K now
Bitcoin is on the rise now, and many are taking this up as the best cryptocurrency in the world as a bearish growth of the blockchain after several months of downward trend in the market. It beat the likes of Ethereum and other top coins available now, with altcoins also joining the trend in their rise as coins in the industry.
Bitcoin is surging in the markets now and will finally break the ground after a long time in 2022.
Bitcoin is finally bearish now
(Photo : Unsplash/André François McKenzie)
The top cryptocurrency in the world is finally on the rise now, with speculation about the coin finally turning bearish in the current market, gaining appreciation from recent trends.
According to CoinMarketCap, Bitcoin’s current valuation is at $22,000, and it finally broke through its significant downtrend, which is now seeing an increase in market cap for everyone.
There is massive pressure on Bitcoin now, and it was close to reaching a valuation of $23,000 earlier, with crypto watchers believing that this is the rise of the top coin after a long time in the dust.
The coin is surging in the market now, and CoinTelegraph reported that the cryptocurrency is kicking off the resistance that initially put it in check for potential growth, hindering its value in early 2022. Belief in Bitcoin sees it surpass more later in 2022.
Also read: CryptoWatch: Ethereum goes carbon-free, and the many developments for cryptocurrency now
Ethereum not rising yet?
Amidst the rise of the top cryptocurrency, the next coin, Ethereum, is experiencing a struggle with its valuation along with its change to proof of stake or its plans to go carbonless on its systems. Still, there is a significant difference between Bitcoin and Ethereum’s performance now, with the value of the 2nd top coin playing at around $1700 now.
Bitcoin and cryptocurrency
The world cryptocurrency market saw a significant drop in trends throughout the early 2022 period as many users and companies feared the end of the digital blockchain. However, the coins did not disappear or crash completely despite this volatile market present now, with Bitcoin picking up its pieces after the low of $19,000 earlier this year.
While some recovered from the losses of the early fall in valuation, some saw this as an opportunity to buy new coin holdings from the market and took advantage of this decline. MicroStrategy, a well-known cryptocurrency company, bought a round of new Bitcoin worth $10 million to add to its portfolio.
With the market out of control, experiencing significant falls and lost valuations, many were quick to jump the gun or criticize cryptocurrency in the market. However, there are many believers and investors who believe and trust the process, hoping for a turnaround in the current state of the notoriously volatile market.
Now, Bitcoin may finally be bearish and breaking previous barriers from its massive fall, finally getting a foothold in the market now.
Related article: Bitcoin falls below $22,000 during crypto selloff
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Written by Isaiah Richard
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