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Cryptoknowmics 2022-05-14 16:30:33

Possible Ways to Reverse the Present Cryptocurrency Market Trend

With the present dip in the Cryptocurrency market, there is a need for intervention before the total collapse of some crypto assets could be reached. Terra (LUNA) will be a major discussion in the history of cryptocurrencies, but there is a need for the reversal of the present decline, so as to encourage future investors and also increase the trust of different governments that cryptocurrencies could be scams. Some of the possible ways for the market trend to reverse are: Bitcoin and Ethereum whales to hodl Launch of a new sector in cryptocurrency Projects to do a buyback Bitcoin and Ethereum whales to hodl The role of the Bitcoin market in the cryptocurrency market cannot be overemphasized. This is due to its dominance in the market. At the time of writing, according to CoinMarketCap, Bitcoin dominance is 44.9% while Ethereum dominance is 19.5%. This shows that the two top cryptocurrencies in terms of market capitalization are controlling about 64.4% percent of the entire cryptocurrency market. Hence, activities within the Bitcoin and Ethereum blockchains could plunge the entire market into crisis. Hence, if Bitcoin and Ethereum whales could hodl for a longer duration and stop transfers to centralized Cryptocurrency exchanges, this present trend could reverse. Launch of a new sector in cryptocurrency One of the reasons why the Cryptocurrency market grew in the past two years was due to the launch of other new areas in the mar...

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