Cryptocurrency: rise or fall?

02/05/2023

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The total capitalization of the cryptocurrency market is losing ground, reaching $1.04 trillion overnight. However, in contrast, some altcoins are trending positively upward in earnings.

Institutional sell-offs have put a lot of pressure on bitcoin, and although its decline has been ongoing since the beginning of the year, bitcoin is still trying to swim against the current. Jeff Ross, founder of Vailshire, suggests that bitcoin could rise in value for the short term. On the Nigerian exchange NairaEx, for example, bitcoin was at $39,000 at one point, more than half the price on the global market.

Nevertheless, investments in cryptocurrency have not stopped. Last week, the share of investments grew by $117 million, of which $116 million was invested in bitcoin.

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