The past week has seen a significant downturn in the prices of Bitcoin and Ethereum. This has led to overall instability in the market, thereby pushing investors’ interest to more promising choices. Fezoo is one such choice. With predicted returns of 20x, investors wonder if it will be the next potential leader in crypto exchange wars.
Bitcoin volatility increases as it fights to survive its recent price decline
Bitcoin has become even more volatile over the past week. Although some experts have predicted that the coin will soon likely go bullish, there is still some fear about where it’s headed. Some crypto analysts say if it stays above $62,500, the coin has great potential to go bullish, and if it jumps over $65,000, the initially tested support level, it might hit a massive $100,000.
While it is believed that some major Grayscale Bitcoin Trust selling may still be going on, Bitcoin Exchange Traded Funds recently purchased $113.5M worth of the crypto. Bitcoin could also be following its halving pattern noted across the years. The cryptocurrency has always gone down before halving due to panic sells, and that may be happening again.
Uncertainty rocks the market as Ethereum trading volume decreases
Following the Bitcoin price decline, Ethereum also suffered, as its price has been dwindling ever since. It has struggled to stay between the $3,300 and $3,600 range while constantly decreasing at an average of 0.15% daily. Although the $3,500 level has been quite the support for the coin, ongoing waves of selling may lead to a deeper fall.
A while ago, two venture capitals reportedly withdrew a significant amount of Ethereum from Binace. This combined sum of 11,207 Ethereum may have mounted more pressure on the coin’s price. Sequel to this, crypto analysts have said falling below $3,050 may mean a long-standing bearish turn for Ethereum.
Fezoo’s rising potential to lead the crypto exchange wars
Despite the price decline of the cryptocurrency giants, Fezoo is one of the exchanges that is collecting crypto enthusiasts’ interest. Due to its potential, many have said it will become a fierce competitor of other popular exchanges.
Fezoo is a decentralized exchange offering lower trading fees than its counterparts. It also provides users with a trading bot to copy their trades. Fezoo practices decentralized governance, in which anyone can participate by having its tokens. The token, which is in its presale, has spread among altcoin and utility coin traders, selling for $0.013.
According to some investors, Fezoo has the potential to become a blue-chip crypto. Therefore, it might be best to watch it for a while before engaging in it. However, others are buying the presale now, seeing as presale investors will earn a revenue share of the platform fees while they have the crypto.
You can visit the Fezoo website to learn more about it.
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Source: https://www.cryptonewsz.com/why-are-bitcoin-and-ethereums-fall-spurring-interest-in-fezoo/