Crypto rise again
He also posted a price-performance comparison between and Twitter: Doctor Profit. Twitter: Doctor Profit Another prominent crypto analyst Justin Bennett said that a bearish trend has been forming in Bitcoin since May when the crypto crash began. Bitcoin is Acting Like a Stock Bitcoin is often treated as a good hedge against inflation. That means inflation doesn't affect the top cryptocurrency.
It might not be the case always, since inflation data has affected Bitcoin's price this year. That's why there has been a historical correlation between the stock market and cryptocurrency volatility. The correlation coefficient measures the strength of the linear relationship between two assets. The Bottom Line There was a positive sentiment that after the Ethereum Merge Bitcoin and the whole crypto market could recover a bit. However, nothing like that happened. Although the Merge was completed successfully without hiccups, the crypto market did not reciprocate.
Second in Crypto — Ethereum ETH Ever since its arrival into the crypto market in , Ethereum ETH rose to prominence quickly due to its capability that allows more than just financial transfers between entities. It is a decentralised computing outlet that is capable of running multiple applications such as using DeFi services and applications.
Ethereum is mainly known for its smart contracts, a feature that enables a diverse ecosystem of applications to run on Ethereum. Some of these decentralised applications dApps are even stablecoins which are pegged to the dollar via smart contracts. Could you be next big winner? The Speedy Crypto — Solana SOL Solana SOL is one of the most profitable cryptocurrencies in existence, gaining itself a solid reputation due to its high-speed transactions that do not sacrifice decentralisation.
Similar to Ethereum, Solana is a cryptocurrency and a flexible platform that runs decentralised applications. It achieves this speed through the mechanism Proof of History PoH which allows for the blockchain to cryptographically verified the passage of time between two events.
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