Skip to content Skip to sidebar Skip to footer

Join our Telegram channel to stay up to date on news coverage

The crypto market is in shambles. And as new information about FTX emerges, crypto prices continue to fall. But is there a breakpoint at which the price decline will stop? Is it now? And if so, is it the right time to invest?

Crypto prices hit two-year low

They say the LUNA crash was bad, but few knew it was just the advent of several bad actors to emerge – actors that many thought could pull the crypto market out of the brink of obscurity and bring it back. to its 2021 highs.

After Coindesk disclosed the true status of FTX and Alameda, Binance decided to liquidate its FTT holdings. This led to the implosion of crypto prices, with FTT falling into oblivion and Bitcoin hitting two-year lows.

For the first time in two years, Bitcoin is struggling at $16,000. The hourly trading chart shows Bitcoin forming one long red after another, and each bullish attempt to revitalize Bitcoin is met with an engulfing bearish pattern. The total cryptocurrency market cap has fallen from over $3 trillion to just $871 billion.

However, amidst this bearish scenario, there is light on a bullish buying opportunity. Many believe that these two-year lows could make this a good time to invest – think again.

The fate of FTX has put a question mark over the entire crypto industry

If we were to go buy on traditional market conditions, Bitcoin’s price right now would have been a “buy” signal. But the current state of the cryptocurrency industry is vastly different than it was just a year ago.

The rise of massive NFT projects has created millionaires overnight, and many crypto investors have seen their wealth grow parabolically. The whole market was so bullish that many said LUNA was one of the best tokens and TerraUSD was one of the best stablecoins in the market. However, after massive LUNA withdrawals led to a death spiral, the entire cryptocurrency market crashed, causing Bitcoin’s price to plummet by 67%.

As this led to massive disruption across the crypto space, the shutdown of venture capital firms ensued. Three Arrows Capital and Voyager were among the first to file for bankruptcy. Amidst this bearish contagion, Sam Bankman-Fried, founder of FTX, the second largest cryptocurrency exchange in the world, has become a trusted person for the entire community.

Billing himself as “the most generous billionaire” of all time, SBF quickly became a fan favorite. The entire space was too captivated to see below the surface until early November.

When the DirtyBubbleMedia article arrived, we saw that Alameda Research might be insolvent. Many investors initially paid no heed, but were forced to change their minds after Binance tweeted that it would be liquidating its FTT (FTX native crypto) holdings.

This led to a snowball effect and brought out more details. With each revelation, the price of FTT plummeted, as did that of Bitcoin. This happened just around the time of the US midterm elections, which already involved a lot of crypto donations.

These factors combined have negatively impacted not just FTX, but the entire crypto market. Calls for regulation are growing, and we have to wait and see how these regulations impact the crypto space.

Is it time to buy?

Most experts tell their followers to wait to buy any cryptocurrency from a centralized exchange right now. Market indicators show that the bottom has not yet come, and the current ecosystem indicates that a seismic shift in the market is about to occur. Now, that feeling can feel like FUD. But the truth is that waiting would be a wise choice right now.

Possible Crypto Investments Right Now

The FTX issue showed that people need better tools to analyze market conditions. This is where Dash 2 Trade comes in. Dash 2 Exchange is a crypto analytics and research tool that brings together social, off-chain, and technical indicators under one roof. This platform also offers a tailor-made pre-sale assessment to help early adopters choose a pre-sale token for investment.

D2T, Dash 2 Trade’s native crypto, is available for presale and has so far raised over $6.6 million. You can buy it at a discounted price of $0.0513 right now before it drops to $0.0533 in later stages.

Other crypto assets making waves in presales are TAX, Calvaria and RobotEra. IMPT is a green cryptocurrency that has raised over $13 million, Calvary (RIA) powers a card game and is about to raise $2 million, and RobotEra (TARO) is a metaverse crypto that has surpassed the $100,000 milestone.

Related Articles

  1. Dash 2 Trade Price Prediction
  2. How to buy bitcoins
  3. India is not viable for crypto

Dash 2 Trade – High Potential Presale

Dash 2 Exchange
  • Presale active live now –
  • Native token of the crypto signals ecosystem
  • KYC checked and audited

Dash 2 Exchange

Join our Telegram channel to stay up to date on news coverage

Source link

Leave a comment