What’s happening in the crypto space today?

crypto market today

The continuation of the bull run with Ethereum, XRP, EOS and BCH is likely to make the average investor wonder what’s happening and how long the present trends will continue. The Covid pandemic, the uncertainty it has brought and the unexpected rise of crypto valuations has created a unique scenario, where established mainstream players are changing their attitude towards bitcoin and crypto in general, seeing this market as a hedge against inflation.

The recent developments such as the Defi and NFT markets have done much to bring crypto to global mainstream attention. As far as Ethereum is concerned, the coming of 2.0 version and the London fork sometime around July will change the situation further.

Overall, three factors have risen in intensity over the last couple of years: adoption, integration and exposure. This means the crypto market today is unlike the previous bull run. The near future, according to one expert, will be decided by several factors:

  1. Institutional play
  2. History repeating itself
  3. Investors tired of holding or trading
  4. Government policies
  5. FUD and misinformation

The extremely sensitive nature of the crypto markets can be judged from the fact that a single tweet by Elon Musk on buying a little Dogecoin started a huge bull rally that hasn’t ended yet. All of this points to the simple conclusion that cryptocurrency is still a nascent and developing field.

Author: Blockmagic

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