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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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

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