BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Crypto

What The Market Is Looking Like For Bitcoin And Ethereum, Two Months To The Year’s End

BlockNews Team by BlockNews Team
October 8, 2022
in Crypto, Finance, Investing
Reading Time: 3 mins read
A A
Bitcoin-Eth
1
SHARES
24
VIEWS
Share on TwitterShare on Reddit

2022 has been very bearish for the crypto market; Bitcoin and Ethereum hit their all-time highs around late 2021 and are now more than 50% below their prices. There have been crashes and plunges after plunge, leaving Q2 and Q3 as bad times for the crypto market. 

You might also like

Around The Block – MAR 24 Week in News

Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption

UK to Mandate Declaration of Crypto Holdings in Tax Forms

Historically, Bitcoin, the most popular commodity cryptocurrency, has changed the lives of those who trade it. The exchange rate versus the dollar rate was below $3000 five years ago, and it has increased progressively over the years; Bitcoin hit a new all-time high price in 2021 but also experienced big drops. 

Ethereum is the second most significant and most popularly used cryptocurrency. The price of Ethereum increased exponentially in 2021, as it hit its new all-time high rate around late 2021 and then hit its lowest point of $900 in June of this year. 

What the Future Looks Like For Bitcoin

Bitcoin, the largest cryptocurrency by market cap, is a good indicator for the crypto market. The market tends to ride its trends, there was a surge in the price of Bitcoin in 2021, and it went over $68,000 last November, setting another new all-time high cost; however, this record was short-lived as it all came crashing down in Q2 of this year, since its record-setting price, it has dipped as low as $20,000 in recent months. 

There are a couple of reasons that could be behind the decline in the price of bitcoin; one of the significant suspected causes is actions being taken by the U.S Central Bank to rein in inflation. And this has had a remarkable effect on all altcoins. The rise in interest rates lessens the demand for growth companies like tech stocks and speculative risk assets like cryptocurrencies. The volatile nature of the altcoins also affects their standing as they become high-risk options in times of instability.

The question is, how high can bitcoin go again in the long term? Experts believe this is a behavioral norm for bitcoin, with its character being “short-term volatility followed by long-term growth.

What the future holds for Ethereum

Ethereum is the second largest cryptocurrency and most popular altcoin in the market, it follows the trend of bitcoin sometimes, and like bitcoin, it serves as a good indicator of the crypto market. 

The growth of Ethereum has been progressive over the last few years from its launch price of ($0.311 – $4800,) its latest all-time high in the Q4 of 2021.

Ethereum, unlike Bitcoin and other cryptocurrencies, is utilized as a software network that allows developers to build and grow new tools, apps, and NFTs, the many applications of the blockchain-based software network have helped it to hold ground over this past year. However, with Ethereum’s transition to a less energy-intensive version commonly known as “The merge,” there is a chance it may become much more appealing and sustainable for widespread use. For Ethereum to rise again long term, an improvement in demand and functionality would determine it. 

Regardless of the decline in Ethereum’s price over the few months, its ROI is still around 300% at an annualized rate. This indicates that early investors have tremendously increased their investment yearly since 2014. Although its current price is a world away from its all-time high speed, there is room for tremendous growth in its worth in the remainder of 2022. 

Conclusion

After gaining a lot of ground during the pandemic period and becoming a fallback system for a lot of investors in late 2020 and most of 2021, the bullish crypto run seems to have ground down to a halt, and whether a run like that would occur in the next few years is anybody’s guess. Crypto enthusiasts believe there’s still more to expect from the altcoins, and most investors are banking on behavioral analysis of the cryptocurrency, using bitcoin as a tracking guide.

Bitcoin has had a progressive pattern over the years, growing in a “short bearish run” followed by a “massive bullish run,” constantly gaining ground. There are reasons to believe that after this dip, the price would skyrocket as always does eventually. 

Ethereum could potentially round up this year with a bang, and if it reaches critical support and bounces off it, it could hit $4000 again and set a new all-time high by the end of the year. 

Tags: Bitcoincryptoethereum
TweetShareShare

Recommended For You

Around The Block – MAR 24 Week in News

by BlockNews Team
March 24, 2023
0
Around the Block

Introduction In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of March 20th....

Read more

Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption

by BlockNews Team
March 24, 2023
0
quicknode

QuickNode is leading the charge as Web3 is poised to revolutionize the world, but it needs its "WordPress moment" to accelerate positive disruption. Blockchain technology can upend manual-intensive...

Read more

UK to Mandate Declaration of Crypto Holdings in Tax Forms

by BlockNews Team
March 24, 2023
0
parliment

The government hopes to close regulatory gaps and stop illegal operations by enacting rules that address various parts of the industry. The requirement to disclose cryptocurrency holdings in...

Read more

The Fed Increases Interest Rates By 25 Basis Points- Impact On Crypto Prices

by BlockNews Team
March 24, 2023
0
The Fed Increases Interest Rates By 25 Basis Points- Impact On Crypto Prices

Crypto prices display rapid fluctuations as the U.S. Federal Reserve hikes interest rates by 0.25%. Investors remain upbeat about the medium-term outlook of Bitcoin and the wider crypto...

Read more

Telegram Enables USDT Stablecoin Payments on the Tron Network

by BlockNews Team
March 24, 2023
0
Telegram

Telegram integrates USDT-TRON (TRC20) into its platform, allowing users to send the stablecoin to their contacts seamlessly and without transaction fees. Telegram's venture into cryptocurrencies began with the...

Read more
Next Post
Honeyland-Solana-Logo

Honeyland: A New GameFi Project in Solana

Related News

AVAX-Logo

Smart Contract Coins & their Blockchains: Avalanche

August 27, 2022
Tezos-logo

Smart Contracts And Their Blockchains: Tezos.

September 29, 2022
Coin Cloud ATM

Major Crypto ATM Operator Coin Cloud Files for Bankruptcy

February 14, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Around The Block – MAR 24 Week in News March 24, 2023
  • Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption March 24, 2023
  • UK to Mandate Declaration of Crypto Holdings in Tax Forms March 24, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?