In this somewhat early crypto update, we look at the live Bitcoin price and the prices of the top 25 crypto. Then we look at why institutional investors are flocking to Cardano (ADA) and why investors are buying Shiba Inu (SHIB) en masse. Finally, we analyze why this cryptowinter could be a crypto hell.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto drop
At the time of writing, the live Bitcoin price is EUR 19,624.03 ($20,688.05). This is 3.44% lower than yesterday around this time and also lower than during yesterday’s crypto update that appeared later.
The prices of most crypto from the top 25 are also falling. There are a few exceptions. FTX Token (FTX) and Cronos (CRO) are each writing 1.46% gains. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day, including the whole weekend.
Cardano (ADA) is a crypto hype among institutional investors
We saw earlier that investors are becoming more interested in Cardano (ADA) against the odds. This now appears to be true for institutional investors as well. They have 4 reasons to invest now. The account ADA whale shares their analyses:
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Some of the pump $ADA has seen last weeks (vs ETH, BTC, alts) is probably because of the Vasil hard fork, but starting to think a not insignificant part of it is also people leaving the on/off chains, faulty staking mechanisms, VC dumps and overleveraged chaos elsewhere behind
– ADA whale (@cardano_whale) June 17, 2022
The live Cardano (ADA) price may be down 3.50% from yesterday at $0.4844, but according to the video analysis below, the price remains bullish as long as it stays above $0.38.
Shiba Inu (SHIB) is also popular among crypto investors
Another crypto where volume is rising strongly is meme coin Shiba Inu )(SHIB). We see that many large Ethereum whales are investing in Shiba Inu (SHIB) in addition to ETH. Since April, 40,000 new traders have joined.
This is mainly due to the release of ShibaSwap rewards and the cheap price per unit. Currently, the live Shiba Inu (SHIB) price is $0.00000810. This is 2.17% lower than yesterday. This drops the coin top 90.58% below its highest ever price (it was $0.000086 on October 28, 2021). With this, the currency has great upside potential and the cash investment required for great returns is relatively small.
In addition, we see that there are a number of bull indicators that can cause a hefty price increase.
This situation applies to a lesser extent to Dogecoin (DOGE). This meme-coin is slightly more expensive. Moreover, investors there are currently restless due to the mega claim against Elon Musk.
Will this cryptowinter be a crypto hell?
Although the outside temperature feels different, there is still talk of a real cryptowinter. If we compare this cryptowinter with other cryptow winters a few things stand out, unfortunately in a negative way.
For example, it is the first time that the cryptowinter falls simultaneously with negative sentiment in other markets and an economic crisis. Since investors seek less risky investments in such a situation, this leads to fewer interested parties.
Also, the interests of institutional investors have become much larger. We see this not only in direct investments, but also in crypto-related companies that were set up with huge investments in the past years. Now we see that these are collapsing en masse due to lower stock prices. If analysts are to be believed, even more crypto platforms and hedge funds will fall off. This will not only lead to an influx of liquidated crypto leverages, but also to reduced confidence and even crypto bank runs.
Finally, the stable coins also have many reliability issues. After the Terra (LUNA) scandal we see more and more stable coins where there seem to be problems. Coverage is sometimes temporarily lost and today the focus is on Tether (USDT), where $800 million market capitalization suddenly disappeared in seconds. These transactions are causing unrest and distrust in the market. This, of course, has its impact on prices.
Are you curious what people are forecasting for the Bitcoin price for the coming week? In our Bitcoin lunch this afternoon, we shared our BTC price week forecast.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”