The crypto market is still displaying poor performance. This post is all about the top 5 worst cryptocurrencies of the week. In the last seven days, the Bitcoin price has decreased by almost -16.6%. At the time of writing this, the BTC price is sitting at $29,620.11. Let’s take a look at it in more detail.
BTC/USD Weekly chart – TradingView
5.Top 5 Worst Cryptocurrencies: THORChain (RUNE) -44.8%
RUNE/USD Weekly chart – TradingView
According to its website, THORChain maintains cross-chain liquidity pools with no pegged or wrapped tokens. Unfortunately, in the last 7 days, the RUNE price has decreased by almost -44.8%, just enough for a spot on our top worst cryptocurrencies list.
4.Top 5 Worst Cryptocurrencies: Fantom (FTM) -47.7%
According to its website, Fantom is a scalable smart contract platform. The platform was created to solve various limitations that have earlier lessened the performance of blockchain platforms. Fantom pledges to crack a Blockchain Trilemma. The trilemma is the power to modify decentralization, agility, and safety in the Defi sector. Unfortunately, in the last 7 days, the FTM price has decreased by almost -47.7%, just enough for a spot on our top worst cryptocurrencies list.
3.Top 5 Worst Cryptocurrencies: Waves (WAVES) -49%
WAVES/USD Weekly chart – TradingView
According to its website, the waves professes itself as an open blockchain protocol and product toolset for Web 3.0 applications and decentralized solutions. The coin was consistently demonstrating a stable performance. Unfortunately, in the last 7 days, the WAVES price has decreased by almost -49%, just enough for a spot on our top worst cryptocurrencies list.
2.Top 5 Worst Cryptocurrencies: Convex Finance (CVX) -50.1%
CVX/USD Weekly chart – TradingView
According to its website, Convex Finance (CVX) is a visionary DeFi composed on the Curve Finance exchange. The Convex bounties CRV stakers with additional DeFi yields. Unfortunately, in the last 7 days, the CVX price has decreased by almost -50.1%, just enough for a spot on our top worst cryptocurrencies list.
1.Top 5 Worst Cryptocurrencies: Terra (LUNA) -100%
LUNA/USD Weekly chart – TradingView
Terra is a blockchain that uses stablecoins to raise price security in global payment systems. In fact, they make to attach price security and fiat money by allowing Bitcoin (BTC), thus enabling cheap repayments. Unfortunately, in the last 7 days, the LUNA price has decreased by almost -100%, just enough for a spot on our top worst cryptocurrencies list.
Tips on Surviving a Cryptocurrency Bear Market
A bear market is just an ending-pitch in the period in which crypto market prices are dropping. Simple as that. A drop in people’s faith will reveal the incipience of a market. But bear markets aren’t for emotions. In fact, there is a lot of opportunity in such markets.
Many people lose hops during bear markets. Their thinking isn’t as decisive at first as most expect the price drop to be short-lived. It’s only as the bear market progresses that people get more and more restless.
The anticipation is specific that the cryptocurrency market would be growing, or at least remain regularly. That is, people are anticipating some sort of stepwise flowing action. Because the medium upsurge in cryptocurrency has been X% over the past 8 years, they anticipate that to gush.
Bear markets are valuable because they disclose what’s actually essential. In the bear market, only the relatively acceptable projects stay. Investors can uncover what’s truly significant to people because bear markets are when people make emotional judgments about what they require. They don’t buy just any coin anymore. They start grilling what they smell. They start forming conclusions more intelligently and precisely.
So, here are the three techniques that could be profitable in a bear market.
- Analyze smaller coins: The number of unique cryptocurrencies is massive in the market, but there are certainly promising projects. If you spend some time on performing analysis of the most contemporary tokens and investing in them as they become known, you can presumably make profits.
- Buy and Holding: Buy-and-hold trading is conceivably the most dominant trading method in the multinational investing community. This is because it is the most comfortable and least complex approach. It is also rarely quoted as a long-term approach, as it requires buying assets and holding on to them.
- Active trading: Active trading is a process that requires more extensive analysis of the market and demands a lot more time, experience, and skill than buy-and-hold. In the world of definitive trading, there are numerous dissimilar practices of active trading. Still, we are dealing with cryptocurrencies, a totally random market, so utilizing established trading techniques could also be sometimes advantageous.
Conclusion
The crypto market has always come back from such bear days. Nevertheless, there are indications that things could alter in the days to come. Such things could do nicely increase the confidence of the entire market. Traders should not overlook diversifying during this time of market downfall as it would protect their investments.
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Source: https://cryptoticker.io/en/top-5-worst-cryptocurrencies-week-19/