The last couple of weeks has been quite turbulent for the market. With so much news around the world, the markets are more volatile than ever. There are the hiked interest rates, the possible invasion of Ukraine, and the pandemic scare. As the capital markets are showcasing fluctuations, so did the cryptocurrency market.
The most surprising move was the sharp falls in bitcoin. It lost a lot of value during the past few days. But, bitcoin has now touched the green lines. It is a zone of relief – a good sign for all the retail and institutional investors.
Altcoins and Bitcoin
A ripple effect of this is noted on Altcoins. Many altcoins have gained around a surprising 40% as the hope returns in the market. The bullish trend in the market is somehow boosting the value of altcoins.
Many altcoins like decenter games frontier have shown amazing results on their graphs. Another service in high demand is Quantstamp services. It is a blockchain security and audit provider. Such boosts in the demand for these services are quite interesting.
For the near future, there is no surety. The feds are yet to come out with their exact plan about the hike in interest rates. These will create a frenzy in economic stability and will definitely show in the cryptocurrency market as well. Although the prices and values of altcoins have sharply risen at the moment, there is no noted pattern for the future.
The cryptocurrency market stands green, with the majority stake held by bitcoin. So, let’s see how the altcoins unfold.