Bitcoin (BTC)
Bitcoin (BTC) has reigned supreme in the cryptocurrency world since its inception in 2009. Its health is a broad indicator of the market’s strength. Bitcoin grew from strength to strength in 2021, rising 137 per cent from the start of the year to an all- time high of $68,789.63 in November. However, it has dropped about 40% since then, and on February 18th, it came uncomfortably close to the psychologically significant $40k mark.
In terms of technical analysis, BTC is approaching its “death cross.” This is a bearish indicator that occurs when the 50-day Moving Average (MA) falls below the 200-day Moving Average. The preceding three “death crosses” in October 2019, March 2020, and June 2021 all turned out to be false dawns or bear traps. After June 2021, Bitcoin skyrocketed and began a fresh bull run.
Ethereum (ETH)
Ethereum (ETH) had a stellar 2021 as well but has dipped in price during the last month. ETH has had a difficult start to 2022. January has historically been a very strong month for the world’s second-largest cryptocurrency. Since 2016, ETH has climbed by 148%, 35 per%, 48%, 20%t, 39%, and 78% in each January. In stark contrast, it fell by about 17% in January 2022 this year. Since the end of January, ETH has made considerable gains and has consolidated above the $3000 barrier.
The much-anticipated release of Ethereum 2.0 is the main hope for Ethereum in 2022. This could revolutionise their entire network, making ETH “more scalable, more secure, and more sustainable,” according to their developers.
Seesaw Protocol (SSW)
Seesaw Protocol (SSW) is making the most of its presale, surging by over 1000 per cent in its first month. Presales are the earliest chance to invest in a new cryptocurrency. Of course, because it has not yet been published, SSW avoids the drops that have frequently plagued the rest of the cryptosphere.
Seesaw Protocol’s value can only rise for as long as it is in presale. There is a well- established pattern of new coins entering the market in big quantities as investors seek an alternate way to make their money work for them.
Seesaw Protocol is a cross-chain protocol that aims to eliminate the inefficient present system of having to convert cryptocurrencies on third-party exchanges before making payments. It intends to capitalise on the rise of DeFi by implementing simple payment solutions and developing new products that will have a long-term impact on the industry.
Source: https://cryptodaily.co.uk/2022/02/bitcoin-btc-and-ethereum-eth-down-6-percent-as-seesaw-protocol-ssw-soars-1000