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May 25, 2022

MPost Markets: Crypto volatility continues

crypto volatility
Photo by Moose Photos. Source: Pexels.

Crypto volatility continues plaguing investors, with bitcoin prices remaining unstable and experts believing the bearish market is here to stay for longer.

Despite the dip to as low as $28,702 yesterday, the bitcoin price is back to oscillating just below the $30,000 mark. At the time of writing, it’s $29,460.42 and experiencing a slight rise of just under 1%. BNB also seems to be doing a bit better than yesterday, with a slight uptick of 1.35% and a price of $326.49. On the other hand, both Ethereum and XRP remain in the red, though not as much as yesterday.

Coins used for NFTs are not doing much better either, with Flow, ApeCoin, Decentraland’s Mana, and Tezos all in the red. SuperRare and BakeryToken, on the other hand, are experiencing a massive jump in prices, of 25.16% and 21.13% respectively.

It’s definitely too early to state whether the market is stabilizing. According to the head of research at Valkyrie Josh Olszewicz, we’re still not out of the woods, and bitcoin prices might still be going down.

“This [movement to hit bottom] will probably take at least all of Q3, perhaps Q4 as well, if it were to happen this year,” Olszewicz told CoinDesk.

That’s a rather grim prognosis for those hoping for a bullish market. Olszewicz believes institutional investors might be behind the downturn in prices due to the on-chain movement.

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In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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Karolina Gaszcz
Karolina Gaszcz

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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