The cryptocurrency market appears to be getting back on track as most tokens have departed on an uptrend – and the upward trajectory has been sustained so far. The capitalization of the global crypto market has also increased by nearly 3% amidst the bullish wave. In this newsletter, we will help you identify some investment opportunities to help you increase your gains by many folds.
Highlights of the week
Here are some of the major developments of the week:
- The bullish momentum continues. The king of the market has increased by 5% during the week – currently standing at a price level of $43,107. Ethereum has increased by 10% to a price level of $3,056
- The studio behind the popular game PUBG has announced to launch an NFT game on Solana
- Mark Zuckerberg’s Meta has filed for eight trademark applications for tokens, wallets, and exchanges
- The US Federal Reserve’s Chairman Jerome Powell is not a fan of cryptocurrencies and has once again questioned the instability of cryptocurrencies
- Cryptocurrency exchange Crypto.com has achieved a milestone for the crypto world as the exchange was announced to be a sponsor for FIFA World Cup 2022
- Thailand Security and Exchange Commission has announced a ban on crypto as a payment method with effect from 1st April 2022
- El Salvador’s much-anticipated Bitcoin bond has been postponed due to market uncertainty
Crypto fear & greed index
Before investing in the crypto market, it is important to completely understand the current market outlook in order to make the right investment decisions. Apart from some of the widely-used channels, the crypto fear & greed index also provides a nearly fool-proof way to understand the market momentum.
The crypto fear and greed index oscillates between zero and hundred – with zero indicating extreme fear and bearish momentum and a hundred implies market overheating. The index has been steadily increasing in value since 22nd March – cementing a bullish outlook. At the time of writing, the crypto index stands at a value of 40 which suggests fear but more to the neutral side. If the current momentum is sustained then the index can soon be giving out an indication of strong bullishness.