Bitcoin, Ethereum, Celo, and Nexo Daily Price Analyses – 18 March Morning Price Prediction

The global crypto market has continued to fluctuate due to the new tide of volatility. The new changes have left it uncertain as there is a mix of bearishness and bullishness going on for different currencies. One group is following bitcoin and reversing the previous gains while the other is moving in the forward direction. The second group is being led by Ethereum, which has stayed bullish despite the strong indications of bearishness. The main reason for the bearishness in the crypto market is the averse feeling of loss in the market. The result has been a sell-off of the different currencies.

As the financial situation for Russia has gone thinner, there is a trend of stronger regulations seen. The result has been strict monitoring of P2P transactions. The fear of the flow of capital from Russia to other countries has alarmed the authorities as they don’t want to bear this loss anymore. The current war has brought a difficult situation for Russia because of the humiliation it is going through. At the same time, it is also going through stricter financial sanctions that have wrecked its economy. If the war continues for a longer period, it will adversely affect the economy, which is on the brink of failure.

Here is a brief overview of the market situation using currencies like Bitcoin, Ethereum, etc.

BTC is moving in the reverse direction

Bitcoin has lowered its value due to the changes in the market resulting from sell-off. The main reason for bearishness is investors pulling out their capital to reduce the risk of losses. Thus, it has led to a continued depreciation in the value of Bitcoin.

If we look at Bitcoin’s performance for the last 24 hours, the losses are about 0.66%. The margin of losses is relatively low, but it has affected Bitcoin price, which has come down from $41K. The current price for Bitcoin is in the $40,698.01 range, and it might go further low if the losses continue.

The weekly performance shows that Bitcoin has gained 3.02%. The value of weekly gains will also erode if the bearish trend doesn’t change. The current market cap for Bitcoin is estimated to be $771,788,960,068. While the 24-hour trading volume for Bitcoin is estimated to be $29,754,850,534.

ETH continues to gather value

Ethereum has been able to retain its momentum, acting differently from Bitcoin. The data for the last 24 hours shows that it has been able to gain a value of 1.26%. While the weekly performance also shows bullishness. It gained 8.12% over the last seven days. The current price for this coin is in the $2,845.10 range.

The new gains are mainly the result of Layer 2, which has led to the rise of huge funds for this coin. It has raised $50 million recently, and the amount might increase in future. So, there are chances that its price might go even higher.

The market cap value for Ethereum is estimated to be $339,367,231,203. In comparison, the 24-hour trading volume of this coin remained at $12,427,546,912.

CELO fluctuates in gains

Celo has remained in a better situation compared to the bearish ones. It has gained 1.42% over the last 24 hours. The situation of this coin remained even better over the last seven days as it gathered gains of 13.46%.

The current price for this currency is in the $3.03 range. The value of the gains has lowered comparatively, but it might gain momentum in the upcoming days. The market cap value of Celo is $1,294,456,275 at the time of writing. While the 24-hour trading volume of it is estimated to be $459,896,003.

NEXO sees bearishness looming

The Nexo coin has also gained a significant value during the recent bullishness. It raised gains of about 6.20% over the last seven days. The gains for the last 24 hours are 1.59%. Thus, there is no major change seen in its momentum.

Currently, this currency ranks 70^th on the global list and has a price of $2.23. While the market cap value of it is estimated to be $1,246,522,658. The 24-hour trading volume of this coin is about $6,668,309. The circulating supply of it remained 427,388,610 CELO.

Final Thoughts

The global crypto market hasn’t been able to continue with the same momentum. The result has been a decrease in the value of the global market cap, which has lowered to $1.82T. Though it is currently in the safe range, it goes further low; there are chances that the rate of sell-off might go higher. The market has been affected by the fears of loss, and there is a need for a strong rally of bullishness. If it can attract investors, it might bring more gains than the previous bullishness. Bitcoin is expected to gain value if the market turns bullish.