The last few years of crypto have revealed both its strongest attributes and its weakest. The crypto winter brought the market to its knees with giants like Bitcoin and Ethereum suffering the most with their exponential losses.
However, the real test has come in the new year, with the collapse of major crypto funding banks and a series of other unfortunate events. This sent the market into a new spiral but was not detrimental as many whales and investors used this as an opportunity to stir a rally by pouring their money into the market.
Bitcoin was one of these coins that shed a large amount of their value during the winter but came back up in the new year, however, it is currently battling the claws of the bears and trying to get back up to its previous $30,000 threshold. Tether has recently been reported to have more gold than bitcoin as the value of the coin swells in its Q1 stats and DogeMiyagi is the latest meme coin that has come to teach the way of community and connection.
Bitcoin: A Giant At War
Bitcoin has had a tough year in the market. The torch bearer of the crypto industry had seen incredible growth over the years and reached its all-time high of just over $60,000 before the winter. It was struck down at its peak to $17,000, which was a massive blow to the entire ecosystem, yet it recovered in the new year, eventually breaking its $30,000 threshold. Many crypto analysts had predicted this for a long time and were thrilled when it occurred.
Currently, there is a great bear market that is consuming the industry and Bitcoin has fallen victim to this. Previously rising to its $30,000 threshold, it has declined to $26,000 and crypto analysts are unsure if it will make it past this.
The most significant factor that could lead Bitcoin into a rally is the federal reserve interest rate hikes. Should this be favorable, Bitcoin is expected to reach its $30,000 threshold once again.
Tether: The Gold-Forged Giant
Perhaps one of the other most well-known cryptocurrencies, Tether is amongst the strongest blockchains in the market. With this also taking a hit in the crypto winter, it showed excellent recovery in the new market, some would suggest that it has recovered better than its competitors.
As the blockchain closed out its first quarter, it had effectively doubled its previous earning from last year as it tallied an astounding $1.48 billion in net profit. Furthermore, the total assets of the blockchain consisted of over $81 billion, alongside $1.5 billion in Bitcoin and over $3 billion in gold. This is an incredible amount of growth and displays the potential of the blockchain in this new market.
The future of Tether in the upcoming months looks extremely promising, especially since they have decided to increase their transparency.
DogeMiyagi: A Community Sensei
Meme coins are all the range in the crypto market and have picked up much popularity in the years since it was first introduced. In the current market, these have turned out to be one of the more popular altcoins and this is the reason why there are so many new coins breaking into the market. DogeMiyagi brings a fresh perspective to the ranks of dog-themed meme coins in that it is based on a love piece of pop culture – the Karate Kid and Mr. Miyagi.
In its first phase of the presale, the coin is making an impact within its community. Its purpose is to allow like-minded individuals to connect. Alongside this, it allows members to govern the coin, which encourages them to invest even more as if it were their project.
Furthermore, it encourages its users to cultivate this environment of camaraderie by sharing the platform with others in return for a 10% commission on their referral investment.
DogeMiyagi is in its first stage of the presale and is selling out fast. Become part of the dojo today and purchase your tokens.
In conclusion, the crypto winter dramatically affected the performance of many high-ranking coins to the point where recovery seemed nearly impossible. However, in the new market, the coins that suffered terrible losses have begun to regain their momentum again, and with the entrance of new coins to populate the market, the additional investments will possibly guarantee a recovery.
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