This Crypto Chain Is Expected To Get Weaker During The Second Week Of October 2022


The performance of the cryptocurrency market over the weekend seemed to be mixed. A number of large-cap cryptocurrencies are seen in the green, but they are prone to reverting back to the red.

At the launch of Coinmarketcap, on Friday (14/10/2022), the majority of the 10 largest crypto assets with either market capitalization or large caps were in the green over the past 24 hours. For example, the value of Bitcoin (BTC) jumped 2.95 percent to reach US$19,689 (Rs.303 million) per chip.

Bitcoin prices rebounded after falling briefly to their lowest level since October 2022 or around $18,201 (Rs279.8 million) after the release of US inflation data.

Tokocrypto trader Afid Sugiono said that the cryptocurrency market is currently fluctuating with a slight increase. This is because investors are concerned about the Fed’s latest hawkish view.

In a written statement, Avid said: “High inflation can cause investors to invest more in fiat money, thus moving away from the market. Therefore, it is only natural that investors choose to wait and see the past couple of days.” Quoted on Friday (Friday). 10/14/2022.

In market conditions like this, Afid said there are several crypto assets that are likely to weaken during the second week of October 2022. The list is as follows.

Disclaimer: Every investment decision is in the hands of the reader. Study and analysis before buying and selling cryptocurrencies. Konsep is not responsible for profits and losses resulting from investment decisions.

1. ApeCoin (APE)

The price of the ApeCoin (APE) token is likely to be bearish this week. The downside was that the US Securities and Exchange Commission (SEC) was investigating Yuga Labs, the startup behind the NFT Bored Ape Yacht Club (BAYC) venture.

The price of ApeCoin is down nearly 8 percent in the past 24 hours to $4.70 per tranche at the time of writing according to Coinmarketcap data. The highest price in the same period was $5.16. While the trading volume of ApeCoin during the past 24 hours increased by 142 percent.

2. XRP (XRP)

CryptoXRP has the potential to experience a bearish phase this week. One of these big-cap cryptocurrencies will come under pressure as Ripple CEO Brad Garlinghouse said, saying that the protracted ‘battle’ between Ripple and the SEC is almost over, but it could take months.

The original XRP token has been under pressure over the past month thanks to growing speculation about a successful settlement of the case before the end of the year. Ripple will consider settling with the SEC as long as XRP is not classified as collateral.

3. Mdex (MDX)

Mdex (MDX) has been rated very bullish for the past week. This week is expected to enter a bearish phase due to the overbought investors.

4. Sunshine (Sun)

CryptoSolana will remain affected by the news that Solana-based DeFi Mango platform has been hacked and lost $100 million. Mango Markets has fallen victim to a hack in its latest exploits.

According to the details provided by the blockchain auditing website, OtterSec, the attacker managed to obtain a large amount of loan from Mango Treasury by tampering with the collateral of the DeFi protocol. This resulted in a huge loss of money from Mango Treasury.

5. Cash (NMR)

Over the past five days, Numberaire has rated very highly. The volume and price movements of NMR have also increased.

Recent performance of NMR coding has created an inverse and handle pattern. This can be beneficial for both short-term investors who want to accumulate their portfolios due to the possibility of lower prices.

Previously, the mixed price of Bitcoin and other cryptocurrencies was observed on Friday, October 14, 2022. However, the majority of cryptocurrency prices tend to weaken.

Based on Coinmarketcap data, on the morning of Friday, October 14, 2022, the cryptocurrency with the largest market capitalization, Bitcoin (BTC) continues to strengthen. Within 24 hours, the price of Bitcoin rose by 1.19 percent. However, over the past week, the price of Bitcoin has fallen by 2.75 percent. Currently, the bitcoin price is $1,9397.16 or around Rs 298.29 million (assuming an exchange rate of Rs 15,378 per US dollar).

The price of Ethereum (ETH) has not been able to maintain its strength in the last 24 hours. Ethereum prices fell by 0.45 percent. In the past week, the price of Ethereum fell by 4.49 percent. Now, the price of Ethereum is at a position of $1,289.88 or around Rs 19.82 million.

However, the next cryptocurrency (BNB) has strengthened in the last 24 hours. BNB prices rose 0.35 percent. However, the price of BNB has fallen by 4.24 percent over the past week. Currently, the price of BNB is $272.04 or around 4.18 million rupees.

Then the price of XRP decreased by 0.76 percent in the last 24 hours. During the week, the price of XRP fell by 1.65 percent. Now, the price of XRP is at $0.4837.

Cardano (ADA) price is down 0.66 percent in the last 24 hours. Even over the past week, the price of Cardano is down 11.74 percent. Currently, Cardano is at the $0.3783 position.

Moreover, Solana (SOL) price is down 1.9 percent in the last 24 hours. Last week, Solana’s price fell by 8.36 percent.

Similarly, the price of Dogecoin (DOGE) located in the red. Dogecoin price is down 0.46 percent in the last 24 hours. Over the past week, the price of Dogecoin is down 6.17%.

Stable currencies like Tether (USDT) have been in the green in the last 24 hours. Last week, cable prices fell 0.01 percent.

The US dollar (USDC) currency rate has decreased by a limited 0.01 percent in the last 24 hours. During the week, the USDC price was down 0.01 percent.

Meanwhile, the price of Binance USD (BUSD) has been in the red for the past 24 hours. Over the past week, the price of BUSD increased by 0.02 percent to a position of $1.

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