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The cryptocurrency market is experiencing a severe fall. In the past twenty-four hours, the price of bitcoin has experienced a decline of around 6%.
The current price of it on the market is $18,826. Despite the fact that Bellatrix was upgraded, Ethereum is now exhibiting incredibly negative trend. During the past twenty-four hours, the price of ETH has decreased by more than 7%, and it is presently trading at $1,531.
The market for cryptocurrencies as a whole is stuck in a rut. In spite of Bitcoin’s recent poor performance, other cryptocurrencies have shown some respite yesterday. However, virtually every cryptocurrency is seeing a decline right now.
Cardano has nearly lost 8% of its value, whereas Bitcoin Cash has only lost 6%. The MATIC for Polygon has decreased by more than 10%.
In the meantime, Ethereum Classic (ETC), which was exhibiting exceptionally positive activity, has seen a decline of about 15% over the course of the previous 24 hours.
What’s The Real Reason behind the Cryptocurrency Market Downfall?
A significant portion of the recent decline in the value of cryptocurrencies can be linked to macroeconomic issues. As the value of the dollar increased again, the price of bitcoin decreased.
The value of the dollar reached a peak not seen in twenty years. The Bloomberg Dollar Spot Index reached new heights not seen before. In a similar situation, the strength seen in US 10-year treasury notes can be attributed to the anticipation of a quantitative tightening by the Feds.
The conventional market experienced a decline as a direct result of the strength of the dollar. The S&P 500 had a down of 0.4%, while the NASDAQ 100 saw a drop of 0.7%. As a result of the strengthening of the dollar, gold prices also decreased.
The performance of traditional markets and other macroeconomic factors have a significant impact on the value of crypto assets.
According to research conducted by Coinbase, cryptocurrency has a strong correlation to traditional markets, particularly with regard to technology equities and the tech-focused NASDAQ.
In the run-up to the merger, it’s also conceivable that investors are being extra cautious with their investments.
The Ethereum Merge is an enormously important event that will almost certainly have a significant effect on the pricing of cryptocurrency. The effective completion of a merger may result in upward mobility.
Nevertheless, problems with Ethereum following the integration have the potential to be extremely damaging to the market.
Which Crypto Should You Invest In During Such Times?
One of the best cryptos you should consider investing in during this crash is Tamadoge. With a lot of potential this cryptocurrency has high chances of skyrocketing to the moon.
The presale of Tamadoge has already accumulated more than $12 million. If you’re someone who is interested in investing in Tamadoge, buy.tamadoge.io is where you can buy them.
For 1 USDT you will get approximately 40 TAMA; however, the pre-sale price of TAMA will progressively grow step by step in order to give early customers with a better value.
When the first milestone of $1 million was reached in the Tamadoge presale, it was covered on Yahoo Finance. This was during the beta sale of Tamadoge, and at the time, the price of Bitcoin was over $24,000.
Early buyers were interested in the Tamadoge presale because new crypto token presales typically outperform the market on launch day – at ICO when they are listed for trading on crypto exchanges.
This is despite the fact that Bitcoin’s price has fallen significantly since then and has fallen even further today, well below $19,000.
For this reason, participating in a new cryptocurrency’s presale may be deemed a “flight to safety” as long as the project in question has been independently validated and audited.
The Tamadoge cryptocurrency project underwent an audit by Solid Proof, an established and impartial smart contract auditing organization, and CoinSniper was used to do KYC checks on the project’s founding team.
More about the Team behind Tamadoge
Two members of the Tamadoge team, Carl Dawkins and Thomas Seabrook, got doxxed during the initial stages, and pretty recently, another member of the team—Siphamandla Mjoli who develops blockchain technology—got doxxed as well.
The legitimacy of a new cryptocurrency initiative can be improved by having public founders. In addition to that, the Tamadoge YouTube channel routinely runs crypto giveaways and “ask-me-anything” type sessions for viewers to participate in.
More on TAMA
TAMA is a token on the Ethereum chain that does not incur transaction fees and uses deflationary tokenomics; these are two more reasons why it is so popular.
Since the beginning of its presale, Tamadoge has been covered by several publications, including The Cryptonomist, BeInCrypto, Bitcoinist, NewsBTC, InsideBitcoins, and most recently, Cryptonews.com, who published the story.
Those who do not wish to participate in Tamadoge’s presale may still have the opportunity to purchase TAMA when it is listed on LBank and Uniswap which will be the first official CEX listing for Tamadoge.
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