The crypto market has been hit by yet another Black Swan event – The Collapse of One of the World’s Largest Crypto Exchanges, FTX,
Ethereum, along with the broader crypto markets, has shed a significant percentage of its value over the past few hours as recent events have occurred.
As rumors about FTX’s potential liquidity problems bubble up online, market participants are increasingly scared, as reflected in the widespread sell-off. With Ethereum stuck in the crosshairs, many participants are wondering if it is all over for the crypto space. Read on to find out more.
Ethereum Price Prediction
Ethereum has seen a significant drop in price over the past 24 hours as panicked investors dumped their crypto holdings following the collapse of the FTX exchange.
At the time of writing, ETH was trading at $1,162, down 23% with over $32 billion in trading volume.
Ethereum has seen its trading volume increase significantly recently, probably due to investors selling their crypto assets out of fear of a rapid decline.
ETH is now trading below its 36, 50 and 200-day moving averages, indicating strong selling momentum.
It looks like the coin is heading towards the key support at $1,000, which is a rounded, psychological level and which has been good on several occasions in the past.
with capacity Binance Acquisition of FTX Not decided yet, the general market consensus seems to be that lower prices are coming.
However, the relative strength index (blue) provides a positive light at the end of the tunnel. It currently sits at 32, which is bordering on the oversold zone. While it’s hard to say whether the sell-off has taken place, for now there are signs that the worst may be over.
It is important to remember that crypto prices have seen such declines many times before. In 2018, Ethereum rose to $1,400 and then fell back to $80 in the months following. The price of ETH recovered again and hit new all-time highs a few years later, indicating the resilience of the solid project.
While prices may fall in the short term, many experts believe that Crypto Prices Will Be Too High In the coming years.
Crypto Coins Provide Quick Profits
Ethereum is the second largest cryptocurrency in the world in terms of market capitalization, after only Bitcoin. This means that it requires a large amount of capital to reach high prices and profits for existing investors.
This is why many people have started looking for alternatives, with presales being an area that has been performing particularly well over the past year, despite the bear market.
Here are three new coins that are in pre-sale right now that could post some decent returns once they get their first listing.
dash 2 trade
dash 2 trade (D2T) is a crypto analytics and intelligence platform for traders and investors. Think of it as a Bloomberg terminal for crypto enthusiasts.
In just a few weeks, D2T has grown by more than $5.7 millionCapturing the attention of crypto investors around the world.
with ElBank is its first confirmed exchange listingD2T has all the basic elements to see significant gains in the future.
IMPT
IMPT is a carbon credits marketplace where users can earn and trade NFT-based carbon offsets by shopping with a wide range of eco-friendly retailers.
IMPT pre-sale now over Raised over $12.5 million This is one of the most popular selling in crypto right now.
IMPT tokens are currently selling for $0.023, but this will increase and continue to grow in the next stages of the presale.
calvaria
calvaria (RIA) is a new play-to-earn game that lets players earn and battle with NFT-based collectible cards. What sets it apart from other blockchain-based games is that users can play it without any cryptocurrency, something that could serve to make it more accessible to a wider pool of gamers.
Presale has raised over $1.6 million and is about to sell its fourth phase, with 1 USDT currently buying 40 RIA tokens.
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