Swinging Around 40,000 Again

It is known that the cryptocurrency market is highly volatile and this is what made investors initially afraid to enter this market, but after cryptocurrencies proved their effective role in global payments and also as one of the best current investments in the market in general, it became the haven that everyone is currently resorting to.

The price of Bitcoin fell, reaching about 38 thousand dollars, before rebounding now, and reaching the price of 39,400 dollars, after it reached in the past days to more than 40 thousand dollars, but this drop is highly expected, especially with the current events.

I think that what is known at the present time is the decline of cryptocurrencies in general due to the current crisis between Russia and Ukraine and the consequences of that in terms of economic sanctions and also restrictions on some buying and selling operations and for some businessmen in many countries around the world, so the decline is expected and the rise that occurred in the days The past was unusual.

But in any case, cryptocurrencies have proven their capabilities in gaining the trust of many users, as they have become a way to donate and store money without any penalties or tracking.

Positive indicators

Despite the decline that occurred, we find most of the market in green now, with a slight increase between 0 to 1%, as, as I mentioned, the Bitcoin price rebounded from 38 thousand dollars to 39,400 dollars, which caused a slight upward movement in the market.

As for the weekly term, we see the opposite, as it is covered in red and a decline of most cryptocurrencies by 2% to 5%, such as Ethereum, which fell dramatically this week to reach a drop of 5.5% and it is now 2600$.

On the other hand, there are some currencies such as Terra, which is performing well in the meantime and rose by 11% this week, and also for the daily performance, it also rose by 1.5%.

We do not know what the coming days may have in store for us, especially with the bad situation on the political scene and the failure to respond to international calls to stop the violence, but we hope that the market situation will improve in the coming days and that we will break again the $40,000 barrier.