global.gerbangindonesia.org – Not Bitcoin, Dogecoin, The Price of 5 Cryptocurrencies Predicted to Soar in Early March 2022
The prices of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), to Dogecoin (DOGE) and Shiba Inu (SHIB) etc. are moving again in the green zone in early March 2022. Here are five choices of cryptocurrencies that are predicted to experience highest price increase.
On Thursday March 3, 2022 trading at 08.37 WIB, Coinmarketcap recorded a weakening of Bitcoin (BTC) prices. The price of Bitcoin / BTC, which is the crypto currency with the largest market cap, is at the level of US$ 43,979.78. In the last 24 hours, Bitcoin/BTC price corrected 0.03%. In 7 trading days, Bitcoin/BTC price is up 19.30%
Apart from BTC, the price of other cryptocurrencies that are in the top 5 market caps are still rising. Ethereum/ETH (second largest market cap) price at $2,960.29 is up 1.05% in the last 24 hours. In 7 trading days, the price of Ethereum/ETH is up 15.63%.
Tether/USDT (third largest market cap) price is at $1, up 0.00% in 24 hours of trading. In 7 trading days, the price of Tether/USDT is down 0.01%.
Binance Coin/BNB (fourth largest market cap) price at $409.61 is up 0.41% in 24 hours of trading. Over 7 trading days, the price of Binance Coin/BNB rose 12.72%.
The price of USD Coin (the fifth largest market cap) at the level of US $ 1 rose 0.06% from the previous day. During 7 trading days, the price of USD Coin rose 0.04%
Meanwhile, the price of Dogecoin/DOGE popular due to Elon Musk rose 0.08% in the last 24 hours to US$0.1331. In 7 trading days, the price of Dogecoin was up 5.18%.
The price of another popular cryptocurrency, the Shiba Inu (SHIB) fell 0.58% in the last 24 hours to 0.00002611. In 7 trading days, the price of the Shiba Inu is up 6.49%.
Previously, cryptocurrency trading in February 2022 was depressed and fell, after the heating up of Russia-Ukraine geopolitical tensions. As a result, many investors are reluctant to go deeper into volatile assets, such as cryptocurrencies.
Now the situation may have reversed. Even so, the market condition that is starting to recover does not guarantee whether the bull run trend will continue or just a bull trap.
Tokocrypto trader Afid Sugiono said investors now seem to be starting to realize that escalating Russia-Ukraine tensions are paving the way for wider adoption of crypto assets. In fact, some market participants believe that Russia will speed up the passage of crypto asset regulation rules.
“However, again, investors must be aware of the potential for a bull trap. Geopolitical tensions between the two countries have not yet decreased,” said Afid in the Tokocrypto Market Signal, which was released on Wednesday (2/3).
Meanwhile, the term bull trap appears when the overall market situation moves. A bull trap is a false signal, referring to a downward trend in a stock, index, or other security reversing after a convincing rally and breaking a previous support level.
In addition, Afid said that there were still other sentiments from the issue of the Fed’s monetary policy regarding interest rates which were still intense. Therefore, he said investors should remain calm and not panic or wait & see.
In the midst of market conditions that are considered to be recovering, Afid provided a number of cryptocurrencies that have the potential to be bullish and bearish in the first week of March.
Prediction of crypto money that will go up in price
The first potentially bullish cryptocurrency is EOS. Afid explained, EOS has the potential to be bullish this week because it is rumored to be carrying out the first stage of updating its blockchain network called Mandel.
The plan is that this rollout will begin gradually on March 1 with the release of the Mandel 3.0 trial network. Mandel itself is an update of the EOS blockchain in the form of a hard fork.
“This update is rumored to be increasing the efficiency of EOS and making it faster in processing transactions. As a result, EOS gets a positive sentiment that brings the price higher,” he explained.
Next is the Verge cryptocurrency (XVG). One of the advantages of the Verge coin is that it is much more scalable than Bitcoin. The reason is, XVG can process a maximum of 100 transactions per second, while Bitcoin is only able to manage 7 transactions.
According to Afid, the potential for bullishness from XVG comes from the Block Reward Halving on March 8, 2022. This will eventually attract investors so that the value of XVG will increase in the future.
Furthermore, he also said that investors could take advantage of the XVG block prize distribution to raise prices. However, he still reminded that there is a potential for the situation to reverse direction, because it is important to remember that there is no exact science about crypto movements.
Another crypto asset worth keeping an eye on this week is CELO. The positive catalyst that makes CELO potentially bullish this week is the news of Celo’s second hard fork called Espresso and will be activated on March 8, 2022.
“At a high level, Hardfork Espresso makes Celo fully compatible with the latest upgrades to the Ethereum network. In addition, the changes will allow awesome dapps like Orchid and Superfluid to work on Celo after Espresso activation,” explained Afid.
In addition, KAVA crypto money is also assessed by Afid as having the potential to be in a green trend. He said the price of KAVA could rise due to the news of the merging of the ecosystem on his platform which is predicted to be released on March 8. Although information about what ecosystem will join is still closed.
In the future, Kava Network will combine the two largest decentralized ecosystems in one Layer-1 blockchain network. Although it is still unclear, according to Afid, investors are already preparing to enter to increase the price of KAVA.
The last crypto asset to look at this week is Polkastarter (POLS). According to him, the bullish potential is in line with Polkastarter’s plan to launch its first sale of NFT land in Cryptoverse, a virtual world built with Unreal Engine 5 on March 8.
“The value of POLS is expected to increase due to news that Polkastarter will start selling virtual land in the form of NFT in the Cryptoverse world, a 3D Metaverse concept built with Unreal Engine 5 technology. This makes investors excited,” concluded Afid.