Bitcoin just recorded its best month of trading activity in July since last year, up 19%. What does this mean for PivaCrip?
Although the total cryptocurrency market capitalization has yet to reach its all-time high, currently hovering around $1 trillion, there is positive movement among the significant cryptos across the board. And with Ethereum (ETH) rising more than 50% in the past month, it was only a matter of time before Bitcoin (BTC) would follow in its younger brother’s footsteps.
Yes, Bitcoin (BTC) may be down over 65% since its all-time peak in November 2021, reaching an astonishing $69,000. However, the road ahead looks quite promising as it just finished its best month since last year. In today’s editorial, I will consider why investors may remain bullish on Bitcoin and what it means for the crypto market, including a new project, PrivaCrip (PRCR).
Is Bitcoin (BTC) Gaining Momentum?
At the time of writing, the first digital asset is trading by market cap for $24,094, per data from CoinMarketCap. Despite a seven-day streak of gains in a row, Bitcoin’s (BTC) 30-day gain is the most significant gain since last October! This alone could signal an upcoming bullish rally, as Bitcoin (BTC) and the rest of the crypto herd have been hit by rising inflation, potential worldwide recession and the most extensive military conflict in Europe since World War II.
While the Fed has raised interest rates several times in the past couple of months, investors are looking at the risky assets that recently flooded the bear market. Aside from US stocks, this also includes Bitcoin (BTC) along with other digital coins and tokens, which are notoriously volatile.
Given the data, however, Bitcoin (BTC) has done better than analysts predicted and remains closely tied to the traditional U.S. stock market, a pattern that became particularly evident in 2022. Since Friday, U.S. stocks have been up for a third day in a row and is set to record its best day in nearly two years as investors appear less spooked by the Federal Reserve’s moves to cool inflation.
Another reason investors should remain bullish on Bitcoin (BTC) is that despite the bear market, professionals are eager to receive their paychecks in crypto, according to a Deel industry report. Although professionals don’t mind getting paid in a wide range of coins, Bitcoin (BTC) has dominated the crypto payment scene. The report concluded that more than $47% expressed interest in getting paid in Bitcoin (BTC) across various industries in the past six months.
Disclaimer: For the report, Dell, a global pay specialist, used data from more than 100,000 cross-border contracts in 150 countries and over 500,000 pay data points.
PrivaCrip (PRCR): Privacy To The Masses!
Privacy has always been the cornerstone of crypto and blockchain development, occupying one of the three pillars that formulate the industry’s success. One could even suggest that blockchain technology would be obsolete without its immutable privacy feature. Realizing this, PrivaCrip (PRCR) aims to deliver a network that will be the world’s most protection-based blockchain. To accelerate the mass adoption of Web 3.0 use cases, the project will create a safe environment for users when sharing information.
With its eyes on the DeFi market as one of its main prizes, PrivaCrip (PRCR) will solve the privacy problem inherent to the industry by offering a scalable solution that will retain maximum security for users’ data. One of the main tools to achieve this will be through a tool known as Tokenize Data, which many considered a game-changer, laying the foundation for a whole new environment.
By guaranteeing that the information remains private and cannot be reused without consent, this will de facto return control of the data to the users. Considering the amount of information being recorded in DeFi and other crypto domains, such a project could really promise a better future for the crypto industry in the future.
The bottom line
The U-turn that Bitcoin (BTC) makes will inevitably affect other altcoins, and the market will once again remain in the green territory, until further notice. PrivaCrip will be no exception and once the pre-sale phase is over, its upward movement should be the done deal. But always do your own research, even for massively recognized projects like Bitcoin (BTC). May the force be with you among the vast blockchain networks!
If you want to learn more about PrivaCrip, visit their website for information.
PrivaCrip (PRCR)
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent Bitcoinists. Bitcoinist does not guarantee the accuracy or timeliness of the information available in such content. Do your research and invest at your own risk.
