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Uncertainty And Fear Prevail In The Cryptocurrency Market: Analysis - Binaryx

Unclear Situations With The Altcoins: The Uncertainty And Fear On The Cryptocurrency Market

Today, for many participants in the crypto community, the market behavior of Bitcoin causes concern and a lack of understanding of what to expect from the flagship cryptocurrency further. Many crypto enthusiasts had high hopes for the halving Bitcoin and it`s rally, which was supposed to happen. But until we see such a welcome bullish surge in the price of Bitcoin: it still can not overcome the figure of 10,000 dollars.

Bitcoin price fluctuations, a decrease in the hash rate partially shook the market position of the flagship cryptocurrency, and trust in it. But despite this, many crypto investors are still optimistic about the prospects and future of Bitcoin.

What is happening with altcoins now?

Today, quite the opposite situation has developed among altcoins. In particular, we have witnessed the buildup of Ethereum. Finally, ETH has shown a steady upward price movement.

But here, some fears reign. The partial dependence of stable coins on the market behavior of the currency causes a double attitude from investors and traders. The delay in introducing the acclaimed ETH 2.0 project further fuels the degree of uncertainty and could adversely affect Ethereum’s market reputation.

The Ethereum development team has created ERC-20 tokens to improve its product. These are blockchain assets that adjust the volatility of ETH. Since stable coins, in addition to advantages, have some flaws, most likely we can soon become witnesses to the issue of improved stable coins.

One of the most criticized cryptocurrencies continues to be EOS. If we talk about other altcoins, for example, such as XRP, BCH, they have more optimistic prospects for further growth. The regular occurrence of bullish impulses gives hope for their breakthrough in the future.

The launch of cross-platform software that runs on the Chainlink blockchain can completely change the approach to conducting financial transactions. The popularization of smart contracts, the introduction of a system of so-called “oracles” based on blockchain technology will make it possible to use Chainlink in business shortly.