Price Analysis

Was the Market top Achieved, Bitcoin May not Reach ATH in the Next 2-3 Years!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Aug 18, 2022

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The recent price plunge dragged the entire crypto space lower as most of the crypto assets witnessed a considerable price drain. The top cryptos like Bitcoin (BTC), Ethereum(ETH), etc and many more have left the investors in deep pain as the bullish momentum has eased significantly. 

The US stock markets have been on the downside for a while ever since the Fed’s SEC rolled out new CPI rates. The markets closed lower during the previous trading day followed by Dow Jones & NASDAQ which also dropped heavily. Meanwhile, the U.S Treasury yields gained finely, but the concerns over the raised interest rates prevailed. 

Mainly due to the reason that the crypto markets get heavily influenced due to the rise in the bond yields. However, despite the market conditions getting diluted ahead in future and the sentiments coil up, the Bitcoin (BTC) or Ethereum(ETH) or any other cryptos may not reach the ATH anytime in the near future. 

As ETH/BTC is playing around and the trading volume on NFTs has dropped by nearly 95%. Therefore, the analyst believes that despite the markets peaked more than 85%, a drastic drop may make its way out. 

Collectively, the current market trends appear to be pretty shaky and hence significant price volatility may be incoming. The upswings if occurs ahead may only be minor and a short-term bounce will get nullified in the next couple of days ahead. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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