Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Crypto assets likely to rally amid geopolitical uncertainty

Says altcoins are heating up because Bitcoin's market dominance has inverted.

Olumide Adesina by Olumide Adesina
March 18, 2022
in Cryptos
Crypto assets likely to rally amid geopolitical uncertainty
Share on FacebookShare on TwitterShare on Linkedin

Crypto market volatility has increased even more since Russia invaded Ukraine about a month ago.

As the President of Ukraine urges others to prepare to defend their homes against Russian soldiers and attacks, the invasion has also upended life for Ukrainian citizens, with many fleeing the country.

Global financial markets, including cryptocurrency, will experience volatility as the war continues.

RelatedPosts

Sky Mavis opens Ronin bridge after $625 million hack

Crypto Focus: All you need to know about Harmony Network’s $100 million hack

A leading crypto analyst updates his forecast on cryptocurrencies such as Bitcoin and Ethereum and says altcoins such as Solana are on the rise.

In a recent tweet, top analyst Justin Bennett says altcoins are heating up because Bitcoin’s market dominance has inverted.

  • A rise in Bitcoin’s inverted market dominance is actually an increase in altcoin market dominance, as the recent price movement indicates, according to Bennett.
  • Bitcoin (BTC) traded slightly below 41K during on Friday with several major altcoins staying firm
  • At the time of writing, bitcoin is trading just under $41K roughly where it stood 24 hours ago before it surpassed the psychologically significant $40K barrier.
  • The climb in global equity markets was initially attributed to China’s decision to boost its real estate and tech industries, which quelled investor jitters over a regulatory crackdown and a faltering economy.

Bennett said smart contract altcoin Solana is poised for a BTC-dependent breakout in the latest edition of his Cryptocademy newsletter.

“Solana is opening up for a breakout … however, it still needs to close the day above $85 to confirm. This is still speculative for now.

“The price of Solana could move up to $118 if it can break free of this trend line. It might reach $150 if it breaks above that line.

“It all depends on other markets, such as the US dollar index, the total crypto market cap, and the performance of bitcoin over the next few days,” Bennett said.

Bennett turns to Ethereum, which has been on a downward trend in November 2021.

He said, “The ETH price is testing the November trend line today following a 6% rally. The level is currently just under $2,800.

“The breakout should be confirmed by a daily close above that area exposing $3,000 as the next target. Buyers will have to test that next.

“Above $3,000 and I think we see Ethereum sprint toward $3,600.

Bennett concludes by assessing the total crypto market capitalization as evidence of a breakout in his altcoin season prediction.

“According to the total crypto market cap chart, a breakout is imminent this week. A break higher would be ideal for a retest of the $2 trillion area.

“Nonetheless, a breakout has not yet been confirmed. Alternatively, a rotation lower is likely to find support around $1.65 Trillion,”  he concludes.

Related

Tags: EthereumSolana

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • With a smile or a wave, paying in store just got personal
    • U.S wants TikTok removed from Apple, Google app stores over data concerns
    • Sky Mavis opens Ronin bridge after $625 million hack

    Follow us on social media:

    Recent News

    Covid-19: Mastercard says fuel spending higher in Nigeria compared to 2018 peak, as economy reopens

    With a smile or a wave, paying in store just got personal

    June 29, 2022
    TikTok reaches one billion monthly active users worldwide

    U.S wants TikTok removed from Apple, Google app stores over data concerns

    June 29, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com