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As a result of recent macroeconomic events, crypto has collapsed to pre-2021 levels. It has been a long time since such an impactful event has torn its way through the cryptocurrency list, and it is anticipated that recovery is expected to be slow. Reviewing current prices, the Bitcoin price today sits just above $20,000, and the Ethereum price in USD hovers not too far above the $1k mark. Both of these cryptocurrencies haven’t been trading at such low levels for a long time.
In terms of trading fundamentals, the global market cap is today not far under $900 Billion. The market cap has not been this low since the end of 2020, and demonstrates how much value has fallen away from crypto over recent times.
Behind the recent bear market is the impact of far from positive economic news coming out of the United States. Markets plummeted upon the announcement of the highest inflation rates in 40 years, as stock markets tumbled alongside their crypto counterparts. The total cryptocurrency market cap fell below $1 trillion for the first time since early February, falling nearly $68 billion in the space of 4 days. While a huge amount of crypto is traded across markets on a daily basis, this is still a pretty dramatic fall.
The impact this has had on cryptocurrency value has been stark. Many crypto exchanges are trading at levels not seen since the end of 2020 - before crypto’s boom. A typical cryptocurrency exchange is reporting much lower trading volumes than over the previous few months - that’s a long cryptocurrency list of exchanges to take into account. While crypto value rices had enjoyed something of a purple patch throughout 2021, they have crashed back down to earth in 2022 in the midst of much global uncertainty.
List of growing Cryptocurrency prices?
Beyond Bitcoin, it is still clear to see what kind of impact the crypto bear market of 2022 has had on other crypto prices. The Ethereum price in USD is currently close to $1k, having been trading above $3kin earlier parts of the year. The Kucoin price is close to $10 - it was close to $27 at the end of 2021.The cryptocurrency list of growing prices remains small, and will almost definitely stay that way in the short term.
Best Gainers of 2022?
Most cryptocurrencies have been suffering throughout the course of 2022, and there have been very few coins that have managed to post a positive year so far. With the likes of Bitcoin, Etherum, Shiba and Doge down 50% on their starting positions, it’s hard to find any notable gainers from this side of the year. Almost every cryptocurrency exchange is reporting that trading volumes are down, and this is creating downward pressure on the market. The cryptocurrency list for biggest gainers, just like its ‘growing’ counterpart, remains small.
Best Platforms to check live coin prices:
- Coin Market Cap
The world’s most secure digital asset exchange, with zero security breaches in its 9 year lifetime. ZB’s prices are updated in real time, so you can get the live cryptocurrency prices as they update and complete trades getting the best deal.
WazirX is a trading exchange for cryptocurrency in India. It is currently in the process of relocating to the United Arab Emirates, where regulations are much more favorable towards crypto than its traditional home of India.
Binance is arguably the world’s most popular cryptocurrency exchange, with millions of traders flocking to its platform on a daily basis. As with all leading crypto exchanges, cryptographic prices are updated in real time here.
Coin Market Cap
CoinMarketCap is a price tracking website that is dedicated to providing traders with the most accurate value as they occur. CMC is a leading player in its industry, and lists top exchanges like BW6.com in both its Spot and Derivatives Exchange section.
Best valued crypto coins of today?
With crypto currently in a bear market, many crypto are considered to be undervalued.
- Ethereum - floating just above $1k, Ethereum price in USD is approximately 66% down on its highest position in 2022.
- Bitcoin - The current Bitcoin price today is $20k - a long way from its peak at $69k in November 2021.
- BNB - The native Binance token, BNB has over halved in value since the beginning of the year. You can currently buy one token for $212.
- Kucoin - Kucoin is a crypto exchange with its own native token. At the moment, the Kucoin price is trading below $11, which is cheap in comparison to its previous positions.
- Solana - Solana has had a dramatic fall in price through 2022, trading close to $180 at the start of year but now falling towards $30. Solana has been in the crypto game for a long time, and is backed to have a resurgence.
How does crypto contribute to the world Economy?
- Crypto is a major international market, just like the stock market.
- Many large companies across the world have considerable investments in cryptocurrencies, so when crypto prices rise and fall the impact is felt across the globe.
How do cryptocurrency prices change?
Crypto is a supply and demand market. When demand increases for a crypto, its price will go up because it becomes more valuable. When there’s less demand and there’s more supply available, the price will go down.
How to predict cryptocurrency price?
While markets tend to be quite volatile in cryptocurrency, it is certainly possible to forecast the direction in which a market is heading. However, this requires experience and a deep understanding of the factors that drive prices. Remember, cryptocurrency markets are fundamentally driven by supply and demand, so where there is indication in demand growing, prices will go up.
Which is the best cryptocurrency exchange in India?
There are many popular trading platforms available to traders in India, however none can boast the superior security record than BW6. There is no more trusted platform to start your cryptocurrency journey with than the BW6 cryptocurrency trading platform. The BW6crypto trading platform has been free from security breaches throughout the entirety of its lifetime, allowing users to get involved in cryptocurrency trading with complete security and trust in the exchange they are operating on.
Where to buy Cryptocurrency?
To buy crypto in India, firstly head to www.BW6.com and create an account, or download the BW6 app. To do this, select ‘Sign Up’ at the top right hand side of the landing page and follow the instructions. You will be required to complete an identity verification at this point, so please have a form of identification at hand. From here, log in to your BW6 account by clicking ‘Login’, and entering your login credentials. You will now be required to set up your withdrawal address - this will allow you to redeem any successful crypto investments you have made on the platform. Once this is completed, deposit cash into your account to begin investing.