NAGAX Weekly Recap 13 June - 17 June
Crypto market is becoming more volatile, but it’s critical you have the right advice, tools, and information from your crypto partner to navigate market dynamics. That's why we're here. We provide a weekly crypto-news feed to inform you about how markets are moving 👇🏻
Bitcoin has dropped almost 30% in the last week
The sell-off in cryptocurrencies over the past few weeks has got so bad that calling it a mere “crash” apparently doesn’t quite cut it any more.
The total market cap of all cryptocurrencies has declined by more than $2 trillion since the peak last fall, while flagship cryptocurrency Bitcoin is now down almost 70% from its all-time high, and has fallen more than 30% in just the last week, to just around $21,000.
ETH must clear $1,280 to start a steady upward move
Ethereum (ETH) started a fresh decline below the $1,100 level. The price traded to a new multi-month low and almost tested the $1,000 support zone.
A low was around $1,013 before the price started an upside correction. A clear move above the $1,280 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,420 level. Any more gains could start a move towards the $1,550 resistance.
Crypto’s total market cap slips below $1 trillion
Amid a wider crypto market route, the total market capitalization of all cryptocurrencies dropped below $1 trillion. This happened for the first time since January 2021.
Investors in the cryptocurrency market are having a tough time with heightened volatility and strong selling pressure as the bears have tightened their grip on the market.
However, bear markets can be challenging for investors, but they can be seen as a good investment opportunity to buy at lower prices.
Introducing the NAGAX Mobile App for iOS & Android!
We are excited to announce you can download the NAGAX Mobile App for iOS and Android! The NAGAX App will help traders and investors stay on top of the crypto market 24/7. We've combined all the main desktop functions and added some more features to make your mobile trading experience more productive. You can now enjoy an intuitive interface for high-precision cryptocurrency trading, savings and rewards.
We hope this information is important to you! 😉 See you next week!