Crypto Market Takes Unexpected Dip: Top Analyst Sees Bullish Opportunity
• The crypto markets experienced an impressive increase in February, but recently have seen a 2.19% decrease in market cap since yesterday.
• Some analysts are optimistic about the future of the crypto markets, citing it as a routine correction rather than cause for concern.
• Other analysts such as Peter Schiff and Jim Cramer have a more pessimistic outlook on the cryptocurrency industry, predicting that Bitcoin will go below the $18,000 mark again.
Crypto Market Goes Bearish
The global crypto market cap has slightly declined over the week, seeing a 2.19% decrease since yesterday and continuing to dip. Despite this setback, some analysts are still optimistic about the future of cryptocurrencies claiming it is just a routine correction rather than something to worry about.
Ran Neuner, founder of Crypto Banter and CNBC crypto trader, made predictions regarding the US market citing that it is „particularly robust“. Overall he seems bullish about the situation even with its recent decline.
On the other hand, Peter Schiff has predicted that Bitcoin’s price will once more go below $18000 mark and Jim Cramer has urged investors to give up their „magic internet money“ yet again. Both having a negative outlook on cryptocurrencies at this time.
Performance of Major Cryptocurrencies
The performance of major cryptos today include: Bitcoin (BTC) at $24197; Ethereum (ETH) at $1644; Cardano (ADA) at $038626900; Tether (USDT) at $1; Binance Coin (BNB) at $30807; XRP token at $064873900 respectively.
Although there is currently a bearish sentiment in terms of cryptocurrency prices and market cap overall, some analysts remain hopeful that this could be an opportunity for growth rather than cause for concern due to its being just a routine correction in prices or market cap values in comparison to previous months‘ performance.