{"id":332676,"date":"2022-06-15T07:31:31","date_gmt":"2022-06-15T11:31:31","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=332676"},"modified":"2022-06-15T07:31:31","modified_gmt":"2022-06-15T11:31:31","slug":"5-next-cryptocurrency-to-explode-june-2022-week-3","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/5-next-cryptocurrency-to-explode-june-2022-week-3","title":{"rendered":"5 Next Cryptocurrency to Explode – June 2022 Week 3"},"content":{"rendered":"

The cryptocurrency market continues to suffer as a result of rate-hike and Celsius-collapse fears. Its total cap cap is down to $909 billion, a loss of 9% in 24 hours. Pretty much every major coin is falling along with the market, with most top-1oo cryptocurrencies experiencing double-digit losses. Of course, the flip side of such a steep selloff is that at least some coins are setting themselves up for a big rebound. We take a look at some of them in this list of the 5 next cryptocurrency to explode.<\/p>\n

5 Next Cryptocurrency to Explode<\/h2>\n

1. Bitcoin (BTC)<\/h3>\n

BTC is down by 9%, at $20,379. It’s also down by 35% in the past week, as well as in the past month.<\/p>\n

\"Bitcoin<\/p>\n

BTC’s indicators show a marked downturn. Its relative strength index (in purple) is almost touching 20, while its 30-day moving average (in red) is moving downwards again. Together, they amplify the sense that traders are overselling BTC right now.<\/p>\n

Things obviously look pretty grim for BTC. However, it really is the only coin to buy during a bear market. This is largely because a new bull market won’t begin without BTC surging first. This is what happened at the end of 2017, at the end of 2020, and it’s what will happen again.<\/p>\n

This is largely because Bitcoin is the original cryptocurrency, with strong network effects and high security. It also enjoys more real-world use than its rivals. Institutions hold around $28 billion in BTC<\/a>, while banks have been slowly increasing their involvement<\/a> with the cryptocurrency in recent months. Then there are the nations which turn to BTC during periods of very high inflation (e.g. Turkey<\/a> and Argentina<\/a>), as well as those that make it legal tender (El Salvador<\/a> and the Central African Republic<\/a>).<\/p>\n

Buy Bitcoin Now<\/span><\/a><\/div>\n

2. Ethereum (ETH)<\/h3>\n

At $1,064, ETH is down by 11% in the past 24 hours. It has sunk by 41% in the past week and by 50% in the past month.<\/p>\n

\"Ethereum<\/p>\n

ETH’s chart is nigh-on identical to BTC’s. In other words, a purely technical analysis suggests ETH is just as good (or bad) a bet as BTC right now. Given that its RSI has touched 20, technical analysis would suggest a significant rebound soon.<\/p>\n

Turning to its fundamentals, ETH is one of the best-placed altcoins to recover following a return to more hospitable macroeconomic and market conditions. This is largely because Ethereum is in the process of shifting to a proof-of-stake consensus mechanism. This will make it less energy intensive and, over time, more scalable.<\/p>\n

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Congratulations to the #Ethereum<\/a> community on a successful Merge on the Ropsten testnet.<\/p>\n

There is over $22.78B in value staked and ready for the upcoming main-net Merge to Proof-of-Stake.<\/p>\n

This represents 12.8M $ETH<\/a> = 10.78% of supply.<\/p>\n

Live Chart: https:\/\/t.co\/PDQg3lCJCl<\/a> pic.twitter.com\/GiFI3BtSKa<\/a><\/p>\n

— glassnode (@glassnode) June 8, 2022<\/a><\/p><\/blockquote>\n