Bitcoin, Ethereum, THORChain RUNE, and Klaytn Daily Price Analyses – 8 April Morning Price Prediction

The global crypto market has been through another bout of bearishness as various coins returned to their previous position. The new change in the market seems to be a continuation of the previous pattern of alternating bearish and bullish bouts. If the same continues in the upcoming days, the market will go through hard times. The impact might be a decrease in the market cap value on the global level and individual coins. The recent bearishness came as an end to the alternating trends. It is yet to be seen what will be the market’s next move.

Near Protocol has decided to launch a stablecoin. It will be a new addition to the already present stablecoins in the market. However, there is no confirmation of whether it will be launched soon. Also, there is no information about the intent behind its launch. According to sources, this stablecoin will be named USN. The march of famous brands to crypto has led to the need for stablecoins to help with purchases as they don’t risk the consumers’ capital.  

Here is a brief overview of the current market situation using the performance of Bitcoin, Ethereum, and some other names.

BTC takes another turn

Bitcoin has followed an anomalous trend as it has turned in the reverse direction after gaining value. According to experts, it has begun to exhibit the same pattern as previously during the halving period. The change had affected it much as its value had reduced to $32k. Though there is no surety about how it will perform over the upcoming few days, the pattern has a staggering resemblance to the said one.

The recent data shows that Bitcoin has shed 0.79% over 24 hours. If we compare the data for the last seven days, Bitcoin has shed 4.88%. Bitcoin seems to be the main victim of the ongoing market situation. Even if the situation stabilizes, Bitcoin will take time to recover. The current price value for Bitcoin is in the $43,117.51 range.

The current market cap value for Bitcoin is estimated to be $819,494,793,982. While the 24-hour trading volume of Bitcoin is estimated to be $24,353,969,974. The same amount in the native currency of Bitcoin is about $564,828 BTC.

ETH still bullish

Ethereum has been relatively better compared to Bitcoin. Its recent performance shows that it has lowered gains but is yet bullish. It is a good indication for investors who might have gone for sell-offs. The current situation might be a hedge for them to continue investing in Ethereum.

The recent data for Ethereum shows that it has gained 0.42% over the last 24 hours. If we compare the seven-day data, the losses are about 2.40%. The graph for this coin shows that it has gone through a steep fall in value and the recent few days showed relative stability. Now, the ongoing changes might bring it back to a recessive mood.

The current price for Ethereum is in the $3,235.71 range. If we take a peek at the market cap value for Ethereum, it is estimated to be $389,235,000,285. While its 24-hour trading volume of it remained at $16,868,813,806.

RUNE suffers from a market turn

THORChain RUNE has also been in the throes of losses as the market has plunged into instability. The latest data for this coin shows that it has shed 2.13% in 24 hours. If we compare the losses for the last seven days, these are about 19.04%. Thus, it shows that the past week was testing regarding lowering the threshold level of this coin.

The price value for this coin has lowered to $9.19. The current market cap value for RUNE is estimated to be $3,055,334,266. In comparison, the 24-hour trading volume of this coin is about $174,9343,867. The circulating supply of it remained at 330,668,061 RUNE.

KLAY changes to recessive mood

Klaytn is no different from other coins as it has also been affected by the popular market trend. The ongoing changes have affected its daily and weekly performance. Its 24-hour performance shows that it has shed 1.20%, while the weekly performance shows a loss of 6.33%.

The price value for KLAY shows the impact of losses and is currently in the $1.08 range. If we look at the market cap value for this coin, its value is estimated to be $3,010,142,815. In comparison, its 24-hour trading volume of it is about $111,347,137. The same amount in its native currency is about 102,869,362 KLAY.

Final Thoughts

The market is back to hard times as the changes tell of the recession that might lie ahead for Bitcoin and other major currencies in the market. An evident indication is the lowering value of the global market cap, which has come down to $1.99T from $2.15T over the last few days. The market had turned bullish the other day, but its sudden change in direction might be the start of a recession that would affect coins in the coming days. Though there are hopes for improvement, the indicators tell of bearishness.