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The cryptocurrency market took another dip on the 10th of January. The global total market cap dipped under $2 trillion for the first time since September, a clear indicator that price decreases were felt across the board. The market cap has decreased by almost a trillion dollars since November, and for a number of weeks now the market has looked to be on a downward trajectory.
There have been panicked calls of an impending bear market from several big crypto analysts. On the flip side, most investors remain bullish that this latest dip is merely temporary. Whatever experts say, the current situation looks concerning for most investors. Some people who hold larger and more established crypto assets such as Bitcoin (BTC) and Ethereum (ETH) may be wondering if they are better off investing in new and upcoming projects, including Seesaw Protocol (SSW).
Bitcoin (BTC)
Bitcoin is the king of cryptocurrency and has been since its inception in 2009. Its health is a general indicator of the strength of the wider market. In 2021, Bitcoin went from strength to strength, increasing 137% from the beginning of the year to its all-time high of $68,789.63 in November. However, since then it has fallen by almost 40% and even dipped slightly below $40,000 on January the 10th 2022.
In terms of technical analysis, BTC is looming close to its “death cross.” This is when the 50-day Moving Average (MA) dips below the 200-day Moving Average and is a bearish indicator. The three previous “death crosses” in October 2019, March 2020, and June 2021 all proved to be false dawns, or bear traps. Post-June 2021, Bitcoin soared and began a new bull run.
Ethereum (ETH)
Ethereum too had a spectacular 2021 but has fallen over the last month. ETH has endured a tough start to 2022. In the past, January has been an extremely bullish month for the world’s second-largest cryptocurrency. Since 2016, ETH has increased 148%, 35%, 48%, 20%, 39%, and 78% in each January respectively. In stark contrast, this year has seen it decrease by almost 18% in the last 7 days and nearly 17% in January 2022.
The main hope for Ethereum in 2022 is the much-belated launch of Ethereum 2.0. This could revolutionise their entire blockchain, and according to their creators, make ETH “more scalable, more secure, and more sustainable.”
Seesaw Protocol (SSW)
Seesaw Protocol has just started its presale period. Presales are the earliest possible opportunity to invest in a new cryptocurrency. Of course, by dint of not having yet been released into the main crypto-sphere, SSW has avoided the substantial dips that have plagued the rest of the crypto sphere. There is a well-established pattern of new coins increasing by large numbers, as investors look for an alternative opportunity to make their money work for them.
Seesaw Protocol is cross-chain and seeks to end the inefficient current system of having to swap cryptocurrencies on third party exchanges before being able to make payments. It plans to capitalise on the growth in DeFi to implement simple to use payment solutions and develop new products that have a long-lasting impact on the industry.
How to Navigate the Latest Dip
There are multiple avenues to explore going forward. Whilst some experts fear a bear market is incoming, others are calling for investors to ‘buy the dip’. Bitcoin (BTC), despite its dip, is seemingly always going to remain top of the crypto rankings, and has almost unanimously been tipped to hit $100k this year.
The long-awaited release of ETH 2.0 should have a huge effect on the fortunes of Ethereum (ETH) in 2022, seeing it consolidate its place as the number 2 ranked cryptocurrency. When it comes to Seesaw Protocol (SSW), it could follow in the footsteps of other launches that followed massively successful presales. It is inadvisable to give out and out financial advice so I won’t. With all being well, though, a diversified portfolio of standard-bearers like BTC and ETH, with an investment in promising new tokens like Seesaw Protocol, could be the way to go.
More On Seesaw Protocol:
Presale: https://presale.seesawprotocol.io/register
Website: https://seesawprotocol.io/
Telegram: https://t.me/SEESAWPROTOCOL
Twitter: https://twitter.com/SEESAWPROTOCOL
Instagram: https://www.instagram.com/seesaw.protocol