Crypto-currency recovery: Bitcoin still in the lead

The News is pretty good for the crypto-currency price. For a while now, the news of falling crypto-currency prices was, of course, very depressing. The news of recovery is given and at the same time the hope points to the tip of the nose. Lately, the markets have witnessed a slight rise in the crypto markets and this is despite bad news from the International Monetary Fund on inflation.

The fund’s management is still skeptical about the reliability of the news of this recovery. According to the financial institution, US inflation could last another 1-2 years. This is also rather negative news for Germany, for the simple reason that the inflation of the Euro has also become a major problem there. Still, the Euro is losing continuously and strongly against the dollar. The result. The two currencies have recently reached parity. The price of crypto-currencies is still improving, but it is not taking off yet either.

And yet the bitcoin price has been climbing for days and it’s not on pace to stop. On September 15 alone, bitcoin achieved an increase of 2.6%, which allowed it to reach the price of 22300 USD. This rise, which continues, has been facilitated by a rise in stock market indices and the weakness of the US dollar. Ethereum did not do better during this September day. With a slight drop of 0.7%, Ethereum will perform well in the coming days according to specialists.

BTC is not only slightly above its 50-day average, and this is hardly a bullish signal that should be greeted with glee. The average has been holding around USD 23,200 for 200 weeks. Stock market experts are betting on a next stage of the rebound that could resurrect the market.

According to CoinMarketCap, the total value of crypto-currency assets rose 1% overnight to $1.06 billion. Since Tuesday, the fear and greed index for crypto-currencies has risen from 9 points to 34. And this record is the highest crypto-currencies have reached since mid-August.

This dynamic exposes wary market participants, who are likely to keep their focus on the world’s macroeconomic problems. The U.S. inflation report, which could restore market optimism if price growth slows and there is no massive sell-off, is taking up all the market attention. The relationship between bitcoin and the S&P 500 Index, as explained by TradingView, began its climb again last week.

The largest crypto fund posting of the week in the previous 12 weeks, according to Coinshares, was $63 million. Bitcoin funds lost $13 million, Ethereum funds $62 million and BTC runs $11 million. The reading we get from this dynamic is that no institution is determining prices in this situation. This is in visible contrast to the price behavior and overall market capitalization.

The currencies at their sign have shown growth. Among them, it is Solana that is increasing daily. Despite the general market slowdown, 312,000 NFTs were issued on the Solana blockchain, a substantial increase. At the same time on the network, trading volumes of collection assets have increased significantly.

The work of miners has not stopped for a while quite the contrary. The rush of crypto-currencies is only increasing at least according to the figures published last week. The hash rate of the bitcoin network is on the rise. It has once again reached an all-time high of 281.79 million terraHashes. This new performance has pushed back the scheduled time for halving, for a subsequent period that runs from May 2022 to the fourth quarter of 2023.

Everything seems to be moving fast despite the painful crisis that has rocked crypto-currencies. Investors are flocking from all over. A Harris Poll study suggested that 70% of crypto-currency investors, which is far more than the percentage of traditional investors, are determined to become all billionaires.

Bitcoin still holds its leading position in this rise which is starting to show some hesitation as the trend is up but it comes back down from time to time, reflecting the volatility of the crypto-currency markets. Bitcoin has reached more than 21 thousand dollars, showing a rise of more than 10% since the virtual currency crisis.

Other virtual currencies are experiencing greater price fluctuations than bitcoin. Ethereum comes in second place, followed by other crypto-currencies such as BNB, XRP and ADA.

With the dollar falling, investors seem to be regaining some semblance of appetite for risky assets. Major crypto-currency markets are seeing virtual currencies end in the green with every close. After record-breaking 2021 results, crypto-currencies have been rocked by a crisis that has significantly lowered crypto-currency prices. However, a recovery is slowly emerging even though it still remains unstable. During and after this tumultuous crisis, the leaders of the crypto-currencies have maintained their position.

Next to bitcoin are also Ethereum, binance, USDTand USDC, Tron, cardano, Uniswap, even small it still holds its own and finally Pax Gold which seems to be a safe crypto-currency in protecting its wallet. There is undoubtedly a very promising crypto-currency in 2022 and in the years to come. It is Solanna. It is a crypto-currency that has profoundly revolutionized the blockchain. The success of the Solana blockchain already in 2021 is of course its ability to process transactions with speed and especially its low transaction cost that disarms any competition.

Since this September 2022, the Solana blockchain is able to process 2000 to 3000 transactions per second. With this performance, this Solana blockchain is far ahead of the 15 transactions per second by Ethereum and 3 transactions per second by bitcoin. Its cost is even more unbeatable with 0,00025$ against today more than 3$ for bitcoin and 15$ for Ethereum.