Cryptocurrency market continues to move downwards
Hello dear readers, let this post serve to share analytical information about the current downward development that has been showing the price action of BTC and ETH main currencies by market capitalization, which reveals a sense of uncertainty, this because, the price retreat occurs after the FED released part of the conclusions to be discussed within this important monetary body.
Although the cryptocurrency market in these first two months of the year 2023 has been showing significant rebounds to key areas, which in the case of Bitcoin these areas range between the levels of $22 to $24k, in the last week the price action has developed a visible weakness that overcame a weekly depreciation estimated at around -6%.
At the time of writing the Bitcoin price had retreated in the last 24 hours -3.2%, a situation that has triggered doubts among traders and investors, as the Bitcoin price action is again being very vulnerable to the release of inflationary data in the United States.
As far as ETH is concerned, its downward behavior is similar to Bitcoin, this if we take into account that the depreciation in ETH price action fell in the last 24 hours to -2.52%.
In this sense, the key levels conquered a week ago with the price action above the $25k zone, in the current scenario of uncertainty have plummeted to $23k, so this deprecation of $2,000 has again awakened nervousness that was experienced in 2022 in the cryptocurrency market.
SOURCES CONSULTED
Coin360 Cryptocurrency prices - USD. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating the public domain image background: Coin360
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I suppose the Hive voters have trained you post about coins but not so much plants or am I just looking for them in the wrong place?
Hello @leprechaun
The most extraordinary thing about blockchain and web 3.0 social networks, is that you have the freedom to transcend from conventional schemes and navigate this interesting world of disclosure and decentralized finance. I came to the blockchain already 5 years ago, my first 3 years I dedicated to write about the topics I am most passionate about Agricultural Botany (having lab material I aspire to resume that kind of deliveries).
In the last two years I started training in the world of cryptocurrency trading, and it is an area that I like and somehow has allowed me to understand the breadth and value of blockchain and decentralized finance to change the old schemes that have dominated the markets.
If you would like to know any particular information about Agricultural Botany, I will be glad to help you.
Best regards, be well.
Hello. Your work email address didn't work. Can you send an email to [email protected]?
I am most interested in food crops that will grow that are poorly watered. I don't know much about that but some say we are heading into a world wide dry and cold period.