The months passed, and now we begin to see a change in the price of Bitcoin; that is when the doubts start, the uncertainty if the long-awaited bull run of Bitcoin has finally arrived. If you want to buy Bitcoin, you can start by clicking on the link provided.
An overview of digital currencies
Bitcoin calmly watches has had variations that have been quite interesting regarding the analysis. However, it is no secret that the priority of cryptocurrencies is to become the asset value that many hope to have in their investment portfolio.
Several digital currencies, like Bitcoin, have begun to generate interest in crypto investors. Consequently, the market has been so vulnerable. Instead of looking for options, many people prefer to play it safe, investing in BTC or ETH.
There have been many comparisons that have emerged regarding the valuation of crypto assets, even highlighting the fact that Ethereum has surpassed Bitcoin in terms of the metric called Market Value to realized Value (MVRV); through this indicator, the value of a digital asset is analyzed beyond the price that it may have at a given moment.
We know that the valuation of ETH is much lower than that of Bitcoin. Still, several factors are driving the valuation of the former because they are launching the merger known as The Ethereum merges, where the process of creating the digital currency becomes greener.
The competition between these two digital assets makes the situation more interesting; through the analysis, it can be determined that the valuation of Ethereum has increased in recent months by more than 40%, unlike Bitcoin, which has only been able to exceed its last value by almost 10%
A positive lull or just a market bounce
Cryptocurrencies have fought with all their might to maintain themselves even in the extreme conditions of the economic environment that were not supposed to affect the valuation of crypto assets. Still, high inflation and financial measures do not contribute to market stability.
Everything indicates that the momentum they have had has not been enough to make that upward leap that the various users of cryptocurrencies long await; it seems that the 55 EMA has become a barrier that is almost impossible to overcome.
In July, we witnessed what could have been a break from the downward to upward trend after exceeding the price of 19,000 dollars, but it did not turn out to be what many expected; Bitcoin has reached over 24,000 dollars per unit, but It maintains a slight decline that generates more significant uncertainty in the market, touching $21,000 again.
It could be that Bitcoin is trying to touch that floor level again in its constant market analysis, generating further compression, despite events such as the sale of Bitcoin by Tesla, which was nothing more than spontaneous news.
If the downward trend continues, Bitcoin could once again reach that support level given by the EMA 10 of $20,500 and then enter a testing phase where it could touch lower, even reaching $18,000, to make the break later and start a new phase that would be the capitalization phase of Bitcoin.
Although in the opposite case, Bitcoin could be in a tense calm that leads it to go through prices between 20,000 and 22,500, if we break this price level, we would then be in a bullish phase that could reach 28,000 and 30,000 dollars, costs that have served of reference in previous stages where the price of Bitcoin has shot up.
The coins that are making people talk
The crypto assets market remains alert and changing; many options are generated in the digital financial market; there is something for everyone, which is why every time a new trend is developed in cryptocurrencies, it is interesting to know about them.
One of the alternative currencies that have recently stood out after the announcements of being accepted as a payment method in stores such as Gucci has been ApeCoin, which increased in price, managing to capture the attention of many crypto users.
It has not been the only altcoin that has stood out; we also found the renowned DOGE and Shiba Inu, as well as the token of FC Barcelona and Chilliz achieving negotiations that benefit the parties and, of course, increase its market value.
Conclusion
Many changes are being generated around the cryptocurrency market, so we must be vigilant. Any change can be positive or maintain a high-tension environment.
Jorden Smith is a passionate writer and researcher with a knack for exploring news and website reviews. With a keen eye for detail and a love for uncovering hidden gems, Jorden’s work is always thorough and informative. When not busy writing, Jorden enjoys traveling and discovering new places. Stay tuned for more insightful articles from this up-and-coming writer.