Bitcoin, Ethereum, Solana, Cardano; Price Analysis — 11 February Morning Prediction
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TL;DR Breakdown
- Bitcoin is in a precarious position
- Bitcoin’s losses are dwarfed by Ethereum’s
- Solana is no different from the rest of the market
- Cryptomarket is dangling every other day proving instability
Since there was so little accuracy in previous growth estimates, the market has quickly turned around. The experts said that the market would be empty for a long time, and they were right. Because of this, the market has lost some of its gains because growth has stopped.
The North Korean hackers’ gang is going after new crypto companies because the industry is going through hard times. It’s clear that this cyber group wants to see the growth of the cryptocurrency market. It’s causing a lot of damage to the market because investors’ confidence is going down and the market itself isn’t clear. Investors have been taking their money out of the market because the value has gone down.
BTC is in a precarious position
Compared to other cryptocurrencies, Bitcoin is the most vulnerable. Over the last 24 hours, it hasn’t been as good as it used to be. On CoinMarketCap’s stats, the value of bitcoin went down 2.75 percent in the last day. It has seen a 14.62 percent rise in performance over the last seven days.
Bitcoin has a market cap value of $826,823,229,900 right now. At the moment, bitcoin is worth $43,620, and it’s going up and down all the time.
Bitcoin’s losses are dwarfed by Ethereum’s
The recession has taken a heavy toll on both bitcoin and Ethereum. In both Bitcoin and Ethereum, the recession has taken a big bite out of their value. The latest data show that it lost 3.92 percent in the last 24 hours. People also have to pay a lot less for the product. It now costs $3,098 for the thing.
Ethereum has a value of $371,390,139,068 right now. It is because the market has gone down. Ethereum has traded for $ 20,063,386,505 in the last 24 hours, which is a lot.
There may be more people who want to invest in Ethereum because of its recent changes. This could lead to a rise in the value of the cryptocurrency.
SOL is no different from the rest of the market
Solana felt a little better when things suddenly turned around. There were only a few days when the market was going up. As a result, coins didn’t move much. Even Solana’s daily performance shows a 6.77 percent drop.
If the bearishness doesn’t stop, Solana could lose its value. If the situation doesn’t change, more losses could hurt it.
Solana’s current price is $106, and its market cap has been $ 33,690,884,945 in the last 24 hours. I think its trading volume will be $2,610,271,339 at the time this is being written.
A negative market is causing cardano to drop in value
Cardano has been hit by the same problems as the rest of the market. It has dropped 1.16 percent in the last day. 4.15 percent of Cardano‘s value has been lost this week, and that loss is expected to get worse.
The current price for Cardano of about $1.14 and the market cap is estimated to be about $ 38.757,554,312. The amount of money that has been traded in the last 24 hours is about $ 1,341,701,198.
Final Thoughts
Despite the fact that the market has been waiting for stability for quite some time, difficult times persist. In order to turn the situation around, bullishness must be emphasized more prominently. The gains made during the preceding period of bullishness are just a preview of what the market may accomplish if it maintains stability. As a result, the most important goal for the leading currencies should be steadiness. If this occurs, the influx of fresh money will reinvigorate the market as a result of the increased demand for it.
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