October 2, 2022

The decentralized state of the crypto industry has become a pillar financial transactions can rely on and this is why we provide you updates on market trends especially when the international crypto industry is bent on remaining bearish as it fell 2.84% within the recent twenty-four hours.

BTC, the mother, and indicator for the pattern of the volatility in most cryptocurrencies have not witnessed any impactful change in price value as we have recorded fluctuations of red and green candlesticks on different days, just not enough to make significant impacts.

The apparent stability of BTC is attributed to the Russian’s investments in this currency as they divert their wealth abroad. We do not know how the influence will impact this market yet, but here is a summary of what the market looked like for these major currencies – BTC, ETH, and POLKA today. 

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Bitcoin’s Possible Uphill

BTC followed a stable pattern until the chaos in Eastern Europe began, this caused a massive loss of over 10% in twenty-four hours. This didn’t last long as BTC gained and consolidated between $42,000 and $38,000. 

Bitcoin has decreased by 1.86% in the aforesaid twenty-four hours, this is negligible when you observe its price action over the past week as BTC has gained 2.39%. This leaves the mother currency in a relatively stable bullish position and if the market proceeds to move in this path, BTC will most likely exceed the $40,000 mark.

Ethereum’s Price Spur

As we have established, Bitcoin’s value determines what goes on in the crypto industry. The slight bearish ground on the 14th of March encouraged a decrease of 1.82% in the ETH market price. However, the Ethereum price over the past week has gained about 0.67%. The gains might improve for as long as BTC continues to grow.

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The supply of Ethereum available for exchange is now 119,956,112 ETH over the last twenty-four hours.

Polka’s Price Today

The Polkadot coin has the biggest loss in today’s market price with a 5.09% and a circulating price of 1,092,939,050 DOT, a market cap of $19.04 billion, and a twenty-four-hour volume of $674.79 million. 

However, this cannot be deemed a loss when we look at its state over the past week, Polkadot has gained 6.46% and we can say that it is also in a considerably stable state.

Despite the bearish state of the market, the market shows a considerable bull trend. It is expected of other currencies to witness a considerable bull spike in the coming days. 

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If the bearish trend decides to hold water, we have no way of knowing what might occur.

However, this is only speculation and should be treated as such.


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