Cryptos Cross $1 Trillion In Market Cap: Is The Bull Run On?

Cryptos Cross $1 Trillion In Market Cap: Is The Bull Run On?

After a dramatic crash in prices over the last several weeks, the cryptocurrency market has crossed the $1 trillion mark in market capitalization, bringing relief to investors and raising optimism about the start of a bull run.

Strong Buying With Volumes Strong buying interest in the world’s largest digital currency Bitcoin (CRYPTO: BTC) catapulted its prices well above the $22,700 mark, while prices of the second most valuable crypto Ethereum (CRYPTO: ETH) crossed the $1,600 mark, lifting the entire crypto market by about 5% in the last 24 hours.

The market capitalization of the crypto market stands at $1.01 trillion, a level seen last on June 13.

While Bitcoin’s market capitalization stands at $420 billion, Ethereum is sitting at a total market cap of $120 billion, with $20 billion having been added in the last 24 hours alone.

Ethereum Up 54% In One Month According to data from CoinGecko, Ethereum is up by an impressive 54% over the last month, on the back of its much-anticipated merge from its current state as a proof-of-work (PoW) blockchain to an energy-efficient proof-of-stake (PoS) network in September this year, also dubbed as “Ethereum 2.0.”

The asset had dipped below $1,000 less than a week ago.

According to experts, while there are signs of a revival in the overall crypto market, it would be premature to call it a bull run.

Premature To Say Bull Run Has Started “For one, there are no supporting headwinds to support the rally with most factors that led to the crypto winter still in place. Investors can add small amounts of money at this point and wait for overall sentiment to turn positive before joining in the bull run when it begins later on,” Arijit Mukherjee, founder of Yunometa, an NFT marketplace, told Benzinga. “It is also important to research and pick the right tokens at this point rather than just join the herd in search of a quick buck.”

Downtrend Obvious Jenny Zheng, NFT business development lead at Bybit, said it was very obvious that a downward trend is currently underway and that historically, there have been 200 weeks of sideways trading before a price break upwards.

“What we have seen this week is the break upwards. But this does not mean that the upward trend will continue. We have to bear in mind that we are still in the bear market. The wild price fluctuations are part and parcel of the crypto, I will not go all in just because I see a small jump this week,” Zheng says.

Miners Rapidly Exiting BTC Positions Notably, a report from blockchain analytics firm CryptoQuant states that miners are rapidly exiting their Bitcoin positions, with 14,000 Bitcoin, worth more than $300 million, transferred out of wallets belonging to miners in a single 24-hour period at the end of last week.

In the last few weeks, miners have offloaded the largest amount of Bitcoin since January 2021.

Upswing Temporary “Based on the historical price patterns, the market is still in a bear channel, which started back in May. The two-week upswing is just temporary. This is no way near a bull run,” Philip Verrien, project lead at Pollen DeFi, said.

According to Anndy Lian, chief digital advisor to the Mongolian Productivity Organization, there is no way to stop a bear market, which is a part of a financial cycle.

“In the last week, we saw a bullish knife-catching trade setup, and everyone was excited saying that bulls are back. This is totally not realistic and a misconception of naive investors,” Lian said.

The co-author of “Blockchain Revolution 2030” added that bear markets are synonymous with momentary price upswings and that four of the last six months have been negative for crypto markets, signaling that the bear trend continues.

 

 

 

 

Original Source: https://uk.investing.com/news/cryptocurrency-news/cryptos-cross-1-trillion-in-market-cap-is-the-bull-run-on-2690227

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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How To Prepare for the Next Crypto Bull Run

How To Prepare for the Next Crypto Bull Run

There is a lot to learn about what appears to be the first bear market since 2018 in light of recent developments in the cryptocurrency space. For both experienced and novice investors, bear markets have historically been a very trying time, with little to no gains being realized. Many investors suffer significant financial losses during bear markets as they attempt to trade despite the unpredictability of recovering from failures. For a newcomer to succeed in cryptocurrency, learning how to protect your investments and have liquidity for the next bull run is crucial. The aim of this article is to offer informed advice on how to avoid common errors in a bear market and essential steps to take in preparation for the continuation of a bull run in this article.

The upside of the newly created crypto bear market, hard by the crash of Terra and more recently the bankruptcy of 3AC, is the opportunity to improve your portfolio in crypto and NFTs. While there’s plenty of YouTubers advising you to “buy the dip” what does this actually mean in practice? A key to that is a strategy revolving around risk mitigation, bearing in mind that while in the long run crypto and NFTs will likely continue to grow in value, while also accepting a lot of NFT projects are not going to survive. A first step to preparing your bear market strategy is to figure out your risk tolerance.

Types of crypto risk strategy from @krissyos

While there’s lots of discussion and peer to peer pressure about buying the dip whether its Bitcoin or Ether the best approach to help mitigate risk is to adopt a more rational attitude. A key tactic to use dollar-cost-averaging. “If you put a certain amount of money in Bitcoin every single week since 2010, you’d be one happy person right now. If you did it over the last year, today you may not be happy, but maybe in a few months you would be incredibly happy,” recommended Ron Levy, CEO of The Crypto Company. In fact, with most exchanges, you can set up dollar cost averaging, with the benefit that you can set and leave it, However, the fact remains it’s only a worthwhile strategy if the investments in crypto increases over time. “For Bitcoin, I like the dollar-cost averaging strategy because I like Bitcoin long term. It is one of the more stable [crypto] investments that a person can make. When we’re talking about dollar-cost averaging with altcoins, I think that that carries a lot more risk to it,” said Wendy O, crypto investor and popular TikToker.

An essential component of the cryptocurrency industry is research and data. Although profitable investors have previously used the bear market to pinpoint blue-chip projects that would soar in the following bull market, because of how innovative and dynamic the cryptocurrency market is, most of the projects on the market stand a good chance of failing to take off before the next bull run. A good run in the bull market, as in the past, would be yours if you took the time to research the “next big thing” in cryptocurrency. Most research involves reading a lot and collecting a lot of data. Researching projects in a bear market can benefit from a variety of resources, some of which are listed below:

DappRadar -When it comes to discovering, tracking, and trading everything from DeFi, to NFTs and gaming with accurate data and analysis then DappRadar, which was born out of the last crypto winter of 2018, is a beneficial tool. It aims to provide its users with access to “top collections, trending dapps, trader volume and maybe, just maybe, uncover the next blockchain unicorn.” Driving more than 1.5 million users into DApps every month, DappRadar tracks of over 9,000 DApps across 30 blockchains. It’s also recently introduced its own token to enable access to useful investor content, as well as participate in its DAO governance, as it looks to develop its “community-driven Web3 ecosystem,” according to their white paper.

Bankless – Bankless is a well-known podcast in the cryptocurrency industry where thought-leaders and the founders of cutting-edge startups are invited to speak and share their opinions on current events in the industry. In addition, Bankless is a resource for information that supports investment choices by providing direct feedback from seasoned investors on telltale signs of a promising project. Weekly newsletters from Bankless also cover DeFi and cryptocurrency.

On taking a positive attitude to the opportunities in the bear market co-host Ryan Sean Adams said on a recent discussion: “First of all you have to get convicted; if you’re not convicted like just don’t listen to what David and I say go develop your own conviction okay, just like stop the podcast and figure out what this asset class is for yourself.”

CoinMarketCap – It’s the most popular cryptocurrency tracking website in the world, according to CoinMarketCap, with data on thousands of cryptocurrencies. To help you better make investment decisions during a bear market, CoinMarketCap provides helpful information on digital assets to retail investors. The problem is that a lot of people who use it don’t really take full advantage of its resource. For example, right at the top of the homepage there is a snapshot of useful global metrics which helps give a real time view of where the market is at. Another useful but under-used feature is the display it provides of all the places to buy a coin, simply by clicking on the market tab.

 

Source: How to Use CoinMarketCap: 17 Must-Know Tips [2022 Tutorial]

Nansen: Nansen is another helpful blockchain analytics platform that uses on-chain data to tag the wallets of seasoned investors, or whales in cryptocurrency jargon so that retail investors can replicate their holdings and invest in the same projects. To quote data journalist Martin Lee: “Blockchain analytics helps to surface new opportunities, do due diligence and using platforms such as Nansen, you’re able to set up alerts to get real time notifications on certain events. You’re able to make more informed investment decisions by knowing who and what transactions are happening on a blockchain as they happen.” Nansen helps to surface the signal and allow you to focus your time on the crypto projects that matter, as early as possible, Lee added.

Cryptocurrency influencers: There is a plethora of cryptocurrency influencers on YouTube, Twitter, and other social media sites which are well-known for their opinions on cryptocurrency projects, for using their platforms to promote different projects from the bull market. Although it’s obviously not a good idea to take every influencer’s advice, they can also help with investment choices if you choose wisely. Examples worth mentioning include Bitboy CryptoZachXBT, and Laura Shin.

The best action in a bear market is to step back, evaluate the market, and pinpoint potential blue-chip projects that spearhead the next bull run. Your success as a retail investor in the next bull market will significantly depend on how effectively you use the available resources and cryptocurrency data available. I advise investors to start learning about various cryptocurrency projects to position themselves for the next bull run as the bear market appears to be here to stay for now. In order to survive the current bear market the smart thing to do was use the best tools available to guide your decision making. “Now’s the time to double down on use of data and crypto sentiment tools like LunarCrush to up your investor game. It’s a time to improve your understanding both technically and socially. Go re-connect with your friends and family now that things have calmed down, and maybe catch up with what’s happening in the larger blockchain eco-system outside of NFTs and crypto tokens.”

 

Original Source: https://www.securities.io/how-to-prepare-for-the-next-crypto-bull-run-thought-leaders/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Cryptos Cross $1 Trillion In Market Cap: Is The Bull Run On?

Cryptos Cross $1 Trillion In Market Cap: Is The Bull Run On?
ZINGER KEY POINTS
  • Crypto markets cross $1 trillion mark, raising optimism over the possible start of a bull run.
  • But, still too premature to say the bull run has begun, according to experts.

After a dramatic crash in prices over the last several weeks, the cryptocurrency market has crossed the $1 trillion mark in market capitalization, bringing relief to investors and raising optimism about the start of a bull run.

Strong Buying With Volumes

Strong buying interest in the world’s largest digital currency Bitcoin BTC/USD catapulted its prices well above the $22,700 mark, while prices of the second most valuable crypto Ethereum ETH/USD crossed the $1,600 mark, lifting the entire crypto market by about 5% in the last 24 hours.

The market capitalization of the crypto market stands at $1.01 trillion, a level seen last on June 13.

While Bitcoin’s market capitalization stands at $420 billion, Ethereum is sitting at a total market cap of $120 billion, with $20 billion having been added in the last 24 hours alone.

Ethereum Up 54% In One Month

According to data from CoinGecko, Ethereum is up by an impressive 54% over the last month, on the back of its much-anticipated merge from its current state as a proof-of-work (PoW) blockchain to an energy-efficient proof-of-stake (PoS) network in September this year, also dubbed as “Ethereum 2.0.”

According to experts, while there are signs of a revival in the overall crypto market, it would be premature to call it a bull run.

Premature To Say Bull Run Has Started

“For one, there are no supporting headwinds to support the rally with most factors that led to the crypto winter still in place. Investors can add small amounts of money at this point and wait for overall sentiment to turn positive before joining in the bull run when it begins later on,” Arijit Mukherjee, founder of Yunometa, an NFT marketplace, told Benzinga. “It is also important to research and pick the right tokens at this point rather than just join the herd in search of a quick buck.”

Downtrend Obvious

Jenny ZhengNFT business development lead at Bybit, said it was very obvious that a downward trend is currently underway and that historically, there have been 200 weeks of sideways trading before a price break upwards.

“What we have seen this week is the break upwards. But this does not mean that the upward trend will continue. We have to bear in mind that we are still in the bear market. The wild price fluctuations are part and parcel of the crypto, I will not go all in just because I see a small jump this week,” Zheng says.

Miners Rapidly Exiting BTC Positions

Notably, a report from blockchain analytics firm CryptoQuant states that miners are rapidly exiting their Bitcoin positions, with 14,000 Bitcoin, worth more than $300 million, transferred out of wallets belonging to miners in a single 24-hour period at the end of last week.

In the last few weeks, miners have offloaded the largest amount of Bitcoin since January 2021.

Upswing Temporary

“Based on the historical price patterns, the market is still in a bear channel, which started back in May. The two-week upswing is just temporary. This is no way near a bull run,” Philip Verrien, project lead at Pollen DeFi, said.

According to Anndy Lian, chief digital advisor to the Mongolian Productivity Organization, there is no way to stop a bear market, which is a part of a financial cycle.

“In the last week, we saw a bullish knife-catching trade setup, and everyone was excited saying that bulls are back. This is totally not realistic and a misconception of naive investors,” Lian said.

The co-author of “Blockchain Revolution 2030” added that bear markets are synonymous with momentary price upswings and that four of the last six months have been negative for crypto markets, signaling that the bear trend continues.

 

Original Source: https://www.benzinga.com/markets/cryptocurrency/22/07/28110746/cryptos-cross-1-trillion-in-market-cap-has-the-bull-run-begun

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j