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Whether the market has peaked, Bitcoin may not reach ATH in the next 2-3 years!

The recent price slump has dragged down the entire crypto space as most crypto assets have experienced considerable price churn. Top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and others have left investors in deep pain as bullish momentum has significantly diminished.

The US stock market has been down for a while since the Fed SEC introduced the new CPI rate. The market closed lower in the previous session, before the Dow Jones and Nasdaq also fell sharply. Meanwhile, U.S. Treasury yields edged higher, but concerns about rate hikes remained widespread.

The crypto market was heavily impacted mainly by rising bond yields. However, Bitcoin (BTC) or Ethereum (ETH) or any other cryptocurrency may not reach ATH anytime in the near future, despite diluted market conditions and sentiment ahead.

I just don’t see ETH or BTC hitting ATH against USD again, at least for the foreseeable future (1- 3 years) will not. Even if stocks all return to their peaks, the last cycle of Fomo and NFT madness, DeFi peaks, etc. will be hard to beat. That’s it

– Depression BTC (@depression2019) August 17, 2022

With the advent of ETH/BTC, NFT transaction volume dropped by nearly 95%. As a result, analysts believe that despite the market peaking at more than 85%, a sharp decline is likely.

Overall, the current market trend appears to be very volatile, so significant price swings are possible. A short-term rally will be invalidated in the next few days if the advance occurs early.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to report on every event in the crypto space. Studying tiny events and bringing new insights is the main focus of my assignment.

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