2024-03-23 19:33:13
Although Bitcoin (BTC) and Bitcoin Cash (BCH) may have had a volatile month behind them, they can write an increase of more than 25% and almost 57% in their history books. It can be said that they were well on board with the new, green wave of the crypto market.
The price of BTC and its fork is worthy proof of the returned appetite of traders.
The crypto market is hot again, with BTC and BCH rising
Although the price of Bitcoin has decreased by about 4.28% in the last 24 hours, all is not lost, since overall the last 30 days have been in a pretty good mood, and its value has increased by 25.11%. Moreover, BTC is still considered the largest crypto by capitalization.
As of Friday afternoon, BTC is trading at $64,355 on exchanges and is currently in a slightly bearish mood.
Photo: CoinMarketCap
Bitcoin Cash, one of the biggest derivatives of Bitcoin, is not letting up, and BCH has seen an increase of almost 57% in a single month.
BCH is hovering around the $410.77 level on Friday afternoon.
Photo: CoinMarketCap
Thanks to its double-digit gains, Bitcoin and Bitcoin Cash have grown to become the best-performing cryptocurrencies today.
A CoinMarketCap page today, the picture is a bit nuanced, as both BTC and BCH are among the 100 biggest losers based on market capitalization on the “Top Losers” list. Please note that this is only the result of the last 24 hours.
So Bitcoin’s rally has slowed down a bit, but there is still hope for a further bull market.
Bitcoin Cash is also a valuable coin, as it is famous for its fast transaction time, so interest in it may revive again.
Mysterious comments from the Fed point to a rate cut
Let’s see what’s going on beyond Bitcoin and Bitcoin Cash on the crypto map! Are there signs of recovery in the broader crypto market as well?
According to the data, the total market capitalization of digital assets It decreased by 3.49% in the last 24 hours and stands at $2.45 trillion.
This is a bit of a drop, but we don’t have to give up, as several events will soon increase this value.
First, we have to report on the Federal Reserve’s recent FOMC meeting, where comments were made that suggest a rate cut could happen later this year if inflation continues to cool.
As a result of these comments, traders’ and investors’ willingness to take risks may increase further.
Photo: Coinglass
In addition, the crypto market managed to maintain the one that will probably take place in April Bitcoin halving event surrounding optimism.
Although Bitcoin is in a correction phase, some analysts expect another bull cycle after the halving due to the reduced supply.
Interest is also picking up in the cryptocurrency futures market, and increasing activity also indicates positive sentiment.
However, looking at the CoinGlass data, we see that currently only 58.74 million dollars short liquidation took place. Things will certainly get better when speculative appetite recovers and crypto prices soar.
The Green Bitcoin presale sensation is big news
Although the situation of the old bikers, Bitcoin and Bitcoin Cash, is also interesting for us, we have to admit that the most exciting price actions take place in the pre-sale market.
A Green Bitcoin (GBTC) the eco-friendly blockchain project has also managed to capitalize on the recent wave of optimism.
GBTC aims to establish a more sustainable and energy-efficient version of Bitcoin’s Proof-of-Work mining model.
A Green Bitcoin uses the Proof-of-Stake consensus mechanism and requires only 34 Wh of energy consumption per transaction. With BTC, the same costs 1,173,000 Wh.
Green Bitcoin is not just a “green” investment opportunity, it also introduced a new type of reward method.
Thanks to the Gamified Green Staking model, GBTC native coin holders can stake their tokens and yes high annual returns they can reach. In addition, there are bonuses for those who correctly guess the price movement of Bitcoin.
Green Bitcoin therefore makes the staking mechanism playful and thus creates a unique experience. Retail investors seem to reward this method.
The project’s presale has already raised more than $7.6 million, and the Green Bitcoin X page has already been followed by 15.9 thousand people.
A Green Bitcoin smart contracts are also developed by the blockchain specialist company Coinsult auditedand found everything in perfect order.
With the importance of environmental protection coming to the fore, Green Bitcoin may be among the first among the hottest green investments.
Head to the Green Bitcoin site
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**Attention! Our article above is guest content and does not constitute investment advice. The editors of BitcoinBázis do not take responsibility for what has been described and urge all readers to be extra cautious in relation to cryptocurrency, CFD, token, cryptocasino, metaverse, DeFi, play-to-earn and ICO/STO/SAFT investments. Individual research and thorough verification of claims is highly recommended. Trade and play responsibly.**
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