Thursday, December 7, 2023

Technical Analysis Bitcoin and Ethereum: As Markets Consolidate, ETH Remains Above $3,000.

Investing in crypto with proper research can become quite complex. A lot of external factors have to be considered that can influence the prices. When it comes to volatility, crypto is not that different from the stock market. What’s more, is that it’s even a bit more complex than that. The reason behind that being the technology involved.

Just as BTC was going on the rise, it fell down by 1.43℅. ETH too has fallen in price. The value of BTC is now down to 43K from 44K in just one day. The reason behind this steep fall, however, is not that apparent.

The Reason

Amidst the rumors of a possible World War 3 breakout, the whole globe has been gripped with fear. According to a lot of insiders, USA and Russia has been involved in a race of arms sale. Ukraine seems to be the place where the conflict may break out. Due to these political tensions, the prices of cryptocurrencies have taken a massive dip. For Bitcoin, if this trend continues, the prices may fall as low as 41K dollars. However, that seems unlikely as the tensions are already being dissipated.

The same is true for Ethereum as well. The primary altcoin has had a tough 2022. Now that it was looking to rise in prices again, these rumors have impacted it quite negatively.

Conclusion

All in all, this is just a temporary setback for both crypto and the stocks. Once the situation normalizes, the prices will come back to normal.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular