Crypto

Crypto Market Analysis

Crypto Market Analysis | 13 May 2024

Market Analysis

The crypto market appears to be in a lull, with many major cryptos consolidating for the last few weeks. Top cryptos by market cap were rangebound over the weekend. However, investor interest continues to stay positive, with the index still in the “Greed” zone.

Trading around $60.9k, the blockchain activity on the BTC (-0.1%) network signals low participation, with transactions on the BTC network facing a dip. However, in the latest set of predictions of BTC prices in the future, Jack Dorsey Dorsey believes that BTC will go beyond $1 million in 2030.

Current trading sessions mirror the stretch between April and September 2023 when Bitcoin remained stagnant in the $25k-$30k range for six months. After this period, BTC went on to hit its all-time high, while the larger markets rallied.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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