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The world of cryptocurrencies is full of opportunities. Digital coins have created a space for investors, traders and holders to make significant returns and huge profits. It has also created an avenue for developers with new and exciting projects. The well-established crypto market has millions of people from all over the world investing in all forms of crypto assets daily.
The NFT market is going through a rough patch, to say the least. Ever since it peaked in 2021, one of the most lucrative crypto niches has been bleeding with seemingly no signs of a speedy recovery. Some analysts attribute the current state of affairs to a plethora of external factors, such as the raging recession, the most significant conflicts in Europe since World War Two, and the adverse effects of the covid pandemic. Meanwhile, others are keen on believing that the problem of JPEGs flopping should be found elsewhere.
The ongoing bear market has undoubtedly significantly impacted the cryptocurrency industry and crypto regulars, such as traders and investors. Spanning over four months and counting, it is the longest bear market in crypto history and the one that has caused the most damage. One thing the ongoing bear market will surely be remembered for is causing Bitcoin (BTC), the world’s largest cryptocurrency by market cap, to fall below its $20,000 support mark on a number of occasions. It is a feat that had never occurred prior to the ongoing bear market.
While it would be amateurish to write off the remaining part of the current year, it would also be unprofessional not to start preparing for the coming year. Thus, smart crypto investors are considering a good buy in Q4 that can make a progressive run in the first few months of the coming year and beyond.
In the summer, when crypto markets crashed alongside the global financial market, it caused an unprecedented chain of events led to the current reality within the cryptocurrency industry. The crash resulted in a bear market, an extended period of extreme market volatility, and negative prices. However, at the time, no one could have known how terrible and detrimental the bear market would be for the cryptocurrency industry. The ongoing bear market has laid siege to the industry over four months, putting a severe strain on its day-to-day activities and affecting the businesses of crypto regulars, such as investors and traders. It is a situation that many analysts are predicting should be over in the coming weeks.
A new market entrant in the environment occupied by tokens like ApeCoin (APE) and The Sandbox (SAND) , Big Eyes Coin (BIG), will be looking to contend with high-power coins in terms of a well-developed NFT marketplace.
Licensed crypto exchange JPEX collaborates with Simplex by Nuvei to launch the platform’s very first crypto-friendly VISA debit card to the market. The card’s launch is in line with the crypto exchange’s philosophy of making cryptos accessible and easy for daily use, even in places where cryptocurrencies are not supported.
Recently, a project called XEN Crypto suddenly hit the crypto market as the mint of its token XEN attracted the participation of more than 364,114 wallet addresses and triggered a surge in Ethereum network gas fees for 2 consecutive days, reaching 200wei at one point on October 9. Find out more.
As the bear market rages on, it has become apparent that crypto regulars need to find suitable solutions to minimise the risk of running at a loss and stay afloat until the situation changes.