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Is it the time to invest in Bitcoin as there’s rout in global stock markets?

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Is the market selling over yet? While Bitcoin alongside the rest of crypto market has stayed stable, the S&P 500 suffered a 10% correction which translates to be the worst month since 2018 when the stock market crashed terribly. The question asked is whether the almost decade-long finance bull market is at risk.

Perhaps, there’s no immediate trigger directly related to sell-off yet, but possibly the trade war between the US and China as well as the increase in Fed rates might have been behind the market turmoil. The current rout in global stocks might be a way the markets are telling the Federal Reserves that they are on the wrong course.

Some folks have their belief that the stock market crash has a lot to do with the upcoming US midterm elections.

Plus for Bitcoin and cryptocurrency markets in general?

The last time the global stocks crashed, investors had a shift to protect their money by investing in precious metals like gold and silver. But, that was back in 2008 when cryptocurrencies had not busted into the scene.

Almost a decade later, merely we may have a similar scenario in the stock market, and it seems like the crash has no impact on the cryptocurrencies, and hence, no signs of an inverse correlation. It implies that, just like gold and other precious metals, Bitcoin and the crypto market value, in general, depends solely on the supply and demand that’s within the market and is not affected by the global economic performance.

Therefore, it means that most individuals may seek to buy crypto coins-and since Bitcoin is dominating the market, it will significantly benefit. It is, therefore, expected that Bitcoin would do well during this kind of instances. One thing the shifting investors should be aware of is that the price of Bitcoin “always” keeps on fluctuating not like a mere 12% drop (it has become less-volatile in recent times though).

But predicting the price of Bitcoin in the future or the entire crypto market is not easy. And if someone is claiming to know the BTC price in the next ten years, is a liar. Sorry, but it’s the truth. But one thing is for sure, cryptocurrencies and the blockchain technology are the future, and it’s predicted that there might be an increase in the crypto market to $20 trillion in the next ten years.

If the stocks fall, we may be in for a good run in the crypto market as there could be a spike in investors turning to Bitcoin and other cryptocurrencies. Currently, there is no denying that big profits can be made from buying and selling of Bitcoin, but we can’t deny the fact that losses can also be in the waiting.

As it looks, indeed, as the stock market is falling, only the crypto market seems to be the best option to follow and buying Bitcoin at a time like now would sound to be a wise investment decision.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

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Bitcoin

Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

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Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

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Bitcoin

Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

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Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…

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