Is crypto ever going to rise again?

The fall in cryptocurrency prices will depend on “whether the stock market bottomed out and if no major cryptocurrency company goes into liquidation,” according to Edward Moya, senior market analyst at Oanda. The co-founder of the automated cryptocurrency trading platform Coinrule, Oleg Giberstein, believes that cryptocurrencies are suffering the same tensions as other parts of the economy, leading to falling prices. The crypto ecosystem has firmly adhered to the traditional financial system, and the dollar dominates cryptocurrency markets just as it does with traditional financial markets. Meanwhile, global crypto markets appear to have managed to weather the recent storm and several top-tier cryptocurrencies are back in the green.

This crypto winter may not end soon, but it will return, says Dileep Seinberg, founder and CEO of MuffinPay, a crypto and fintech company. Therefore, cryptocurrency prices are usually quoted in dollars, most crypto transactions involve stable currencies linked to dollars, and stable currencies linked to the dollar are widely used as secure collateral for cryptocurrency loans. Cryptocurrency prices tend to rise when there is news related to mass adoption, new technological advances, etc. Because the cryptocurrency market has a relatively low barrier to entry, even people who have never been interested in trading before can easily become investors in cryptocurrencies.

On the other hand, other major cryptocurrencies should come back stronger by building a sustainable future for cryptocurrencies, so that Ethereum is working on the next stage of evolution. The exchange said it hasn't been harmed by cryptocurrency companies seeking protection against bankruptcy. However, the cryptocurrency industry is changing rapidly and some cryptocurrency enthusiasts are starting to doubt whether Bitcoin is still worth investing in. Like any other asset, Bitcoin is affected by news related to it, whether it's about Bitcoin itself, cryptocurrency exchanges or blockchain technology.

Alexander Osario
Alexander Osario

Total twitter fanatic. Devoted tv trailblazer. Extreme pop culture ninja. Lifelong internet buff. Hardcore sushi expert. Hardcore music buff.

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