Bitcoin Price Retest While Ethereum, Shiba Inu, Dogecoin, BNB coin remain the same
by Analytics Insight
February 4, 2022
February is expected to be a more stable or bull month, with most of the cryptocurrencies recovering from the January shocks. Last month, Bitcoin dropped below $40k after a very long time. The market has generally dipped by a significant percentage that might take some time to recover. But there has been positive growth over the last few weeks, and February looks promising. Bitcoin price just retested, whole most of the cryptocurrencies remain the same. Read more here about these cryptocurrencies:
Bitgert had one of the best performances during the bear market conditions. The cryptocurrency maintained a stable price when other large cryptocurrencies, including Bitcoin, crashed. Bitgert has had a few things working in its favour. One of the reasons is the increasing attention that Bitgert from the crypto community. That’s why $BRISE prices have remained the same now.
In the last few weeks, Bitgert has made exciting announcements that kept investing in buying during the bear market. The coming of the Brise centralized exchange, the start of the gasless blockchain development, and the introduction of the Bitgert metaverse product are some of the reasons Bitgert got buyers during the bear market.
The biggest reason why Centcex has been popular in the recent past has been because of the stable price during the bear market. Centcex is one of the few cryptocurrencies that did not succumb to the market pressure to crash. The Centcex project was actually gaining when the market was crashing.
The team has been working on the release of the first product for the project. This means that soon, there will be now revenue generated on the Centcex ecosystem. With the team offering 100% APY staking reward, more investors are coming. That’s why Centcex has been very stable in bear market conditions.
This week, Bitcoin almost broke the $40k ceiling. On the first day of this February, the market experienced a big surge that saw many cryptocurrencies record an impressive gain, with Bitcoin being among the top gainers. It was more like a breakout after Bitcoin struggled for a whole to get out of the $36k. On 1st of Feb, Bitcoin hit the $39k mark and was about to keep surging before a retest.
The coin is now back to the $37k-$38 range, where it has been operating for a while. However, this is just a price that will not last long as Bitcoin is expected bull run so. Immediately the effect of FED reduces, and the market stabilizes, the Bitcoin bull will kick in.
Ethereum is another cryptocurrency that did not experience a retest with the recent market changes. Ethereum is actually one of the cryptocurrencies that posted very stable prices throughout this time. The recent development at Ethereum has been one of the factors that have stabilized the crypto coin. Important to note is the upgrade that the network is undergoing.
The Ethereum protocol upgrade is in the second phase that includes the migration to the PoS protocol. The team has recorded a new ATH in hash rate, which has been credited to the PoS protocol. This is among the reasons the price of Ethereum is growing.
The Shiba Inu price has remained the same with minimal changes as the market kept it green. The cryptocurrency joins the list of the cryptocurrencies that have managed to retain stable prices during today’s breather in the market. The expectation is that Shiba might be one of the cryptocurrencies that will explode soon.
The developments that Shiba Inu has been carrying out over the last few months might make it one of the biggest cryptocurrencies. The launch of the Doggy DAO, which is coming up soon, will be big for this project. The Shiba Inu team is also launching more products on the mainnet, which will make the Shiba token more competitive.
Dogecoin has not had a retest like Bitcoin but has been doing great. Though a bit during this market conditions, $DOGE has been doing very well. The fast growth of Dogecoin has been made possible by the development around this cryptocurrency that has attracted many investors. One of the major things that happened recently is the Dogecoin adoption by Tesla as a currency for buying goods.
There was a sale at Tesla that was accepting $DOGE, and many bought. There are more companies accepting Dogecoin. Elon Musk and Vitalik Buterin’s involvement in Dogecoin has also boosted investors’ confidence. These are reasons why cryptocurrency has been very stable.
The growth and recovery of the Binance coin from the previous plunges have been incredible. The coin has been doing very and is one of the coins that have been very stable in green. BNB growth curve has not experienced a retest but significant growth throughout the day. With the development at Binance, the Binance coin has the potential to be the next big thing.
The growing demand for the Binance coin due to the increasing use of the Binance chain products will be bigger in 2022. In this February, the value of BNB might continue rising if there are no external factors, like regulations, that will affect the crypto market.
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