Bitcoin, Ethereum, Solana, Cardano; Price Analyses — 1 February Morning Prediction

The crypto market’s appeal has increased in tandem with the growing acceptance of digital currency as a concept. The market’s worldwide growth has led to a more significant global acceptance of the notion. Governments in many nations are now pursuing coins like Bitcoin.

As a form of payment and transaction and a popular investment asset, cryptocurrencies have a more comprehensive range of applications. Crypto trading, investment, mining, and staking are activities individuals undertake to gain financial gain.

People now have a new way to generate money thanks to cryptocurrency. This is why developing nations turn to cryptocurrency trading to tackle unemployment and poverty. However, in the market, it is not so straightforward. The crypto industry has seen significant ups and downs due to market volatility. People have lost millions of dollars in liquidations throughout different market downturns.

Bitcoin tries to move forward, moving closer to the $39K price point.

Bitcoin has mostly suffered from a definite bearish trend for a few weeks. The coin reached a high of $69,000 at the close of last year. However, it has been losing ground since then. Its value has plummeted by nearly half in just one week. The top crypto asset, BTC, has attempted to advance in the past 12 hours.

Following the recent rise, Bitcoin’s market value is projected to be $735,791,173,350, with a trading volume of $22,393,569,474.

After gaining 9.75 %, the price of Ethereum went up to $2,790

Ethereum is now the second-largest cryptocurrency trading, and it is bullish, following in the footsteps of Bitcoin. If we look at the gains over the previous seven days, they total 14 percent, which is a significant amount of money given Ethereum‘s standing in the global market. The previous 24 hours have been well, with a 9.42 percent raise; the market value of Ethereum is $2,790.

Following the current upward trend, Ethereum has risen to $2,790, with a trading volume estimated at $14,287,902,500 and a market cap of $333,053,027,314 at this moment.

The big giant’s uprising performance pushed Cardano

It is astute to assert that the market is subsuming all other cryptocurrencies under the same sky. Fortunately, the sky is now in a positive light. Cardano, which has performed well on and off the market, has just reached a new highest point. It is up by more than 3% percent over the previous 24 hours.

Cardano‘s value has plunged to $1.06 after the current rise, with an estimated trading volume of $1,120,352,441, and the market cap has increased to $35,767,688,773.

Solana gains back the ailing momentum

Solana is in the same boat as other coins. The latest 24 hours’ data indicates again of 17 percent. While the past seven days have been similar, the gain is more than 18 percent. The current price of the Solana is about $108.

This coin currently has a market capitalization of around $33,869,271,433. The positive market has also had an effect on the trading volume of this coin, which is projected to be $2,974,732,953. As seen by the previous days’ losses, Solana’s chart demonstrates a tendency of continual decline.

Final Thoughts

The overall market capitalization has fallen to $1.70 trillion, a loss of more than a trillion dollars in the previous several months. The losses may persist until a long-term favourable shift occurs. The loss of market value may be caused by a variety of factors. If the market is to recover, the current issues must be addressed, and if this does not occur, the market’s value will plummet much more.