Ed D - Crypto Investor 09-07-2022
The crypto market is gradually regaining its footing after a 48-hour period of deep red. Following Russia's invasion of Ukraine, the globe and the whole crypto assets market were rocked yesterday. The price decline in Bitcoin (BTC) sparked fear and conjecture that the market would never recover.
Surprisingly, Bitcoin and other cryptocurrencies have made considerable gains in recent hours.
Cryptocurrencies' current market capitalization is $1.71 trillion, down almost $200 billion in the previous 24 hours.
Ripple (XRP) is one of the cryptos that has made a strong comeback to profitability. At the time of writing, XRP was up 8.78 percent and was trading at $0.693. Despite this, the XRP market is down 12.25 percent and continues to push for a $1 price, which may come sooner rather than later.
Avalanche (AVAX) is another coin that has piqued our interest, since it just climbed the CoinMarketCap rankings to reach the top 10 most valuable cryptocurrency. While the Ripple family was still relishing the moment, it all came crashing down to the eleventh. Despite this, AVAX has risen 11.94 percent in the previous 24 hours and might be on the verge of a major spike following its price adjustment.
It's still up for debate whether the global crypto to crypto market will survive the storm of several political events. Most of the best cryptocurrencies, according to some expert cryptocurrency review, says it may continue to struggle to break even in 2022. One even predicted that the next major surge for Bitcoin and other digital currencies would occur in 2023.