When you awaken in the morning, you discover that the value of the tokens in your cryptocurrency portfolio has increased overnight.
You feel a sudden burst of euphoria, but something puzzles you: why is cryptocurrency up today?
This is the question that has been on everyone’s mind today, with Bitcoin’s price rising by 7% over the last day and several other altcoins exceeding.
Does this signal the end of the crypto bear market?
Well, not quite, but we are making progress.
The market is seeing much too much activity right now, with Celsius declaring bankruptcy, Three Arrows Capital entering liquidation, and Terra experiencing a “black swan” incident.
Additionally, Bitcoin is still a long way from reaching its all-time high in November ($69,000), and global inflation and other macroeconomic problems aren’t helping either.
While this may seem a little concerning, you may also see this as the perfect opportunity to get premium cryptos at a reduced price.
In this post, we’ll go through the precise causes of the cryptocurrency market’s current upswing and show you the best cryptocurrencies to purchase in 2022 for 100x returns.
As we mentioned, it’s wonderful to realize that the value of your cryptocurrency holdings has increased.
However, you can be setting yourself up for failure in the long term if you don’t consider the causes that contributed to the growth and make an effort to comprehend the present market condition.
Since Bitcoin is unquestionably the most significant cryptocurrency on the market, it is not surprising that 99 percent of experts pay the greatest attention to its price.
As of July 20, the price of one Bitcoin token is $23,845; this is an almost 2% gain today and a 7% increase over the previous 24 hours.
There is more encouraging news about the overall crypto market cap. Once more surpassing the $1 trillion threshold, it reached $1.05 trillion, which is almost 65% less than the previous record-high of $3 trillion set in November 2021.
Although this figure is still not “high enough,” psychologically speaking, it’s fantastic news.
In the past 24 hours, other cryptocurrencies that are listed on well-known exchanges like eToro have also outperformed.
This contains My Neighbor Alice (12.8% increase), DYDX (13.8% increase), Polymath (8.9% increase), and Dogecoin (7.7% increase) (7.3 percent increase).
Although Polygon (MATIC) hasn’t improved much over the past few days, it has still had a strong month.
