Although the total cryptocurrency market capitalization is yet to reach its all-time high position, currently fluctuating around the $1 trillion mark, there is a positive movement among the significant cryptos across the board. And with Ethereum (ETH) rising more than 50% over the past month, it was only a matter of time before Bitcoin (BTC) would follow in its younger brother’s footsteps.
Yes, Bitcoin (BTC) may be down over 65% since its absolute peak in November 2021, hitting an astonishing $69,000. However, the road ahead looks rather promising as it has just wrapped its best month since last year. In today’s editorial, I would like to consider why investors could remain bullish on Bitcoin and what it means for the crypto market, including a new project, PrivaCrip (PRCR).
Is Bitcoin (BTC) Gaining Momentum?
At the time of writing, the first digital asset by market capitalization is trading for $24,094, per data by CoinMarketCap. Despite enjoying a seven-day increase in a row, Bitcoin’s (BTC) 30-day rise is the most significant spike since October last year! This alone could sign an upcoming bullish rally, as Bitcoin (BTC) and the rest of the crypto flock have been battered by rising inflation, potential worldwide recession and the most extensive military conflict in Europe since World War Two.
While the Fed has raised the interest rates numerous times in the past couple of months, investors are looking into the risky assets that recently flooded the bear market. Apart from the US equities, this also includes Bitcoin (BTC) along with other digital coins and tokens, which are famously volatile.
However, given the data Bitcoin (BTC) has done better than the analysts predicted, and is still closely walking hand in hand with the traditional US stock market, a pattern that became especially evident in 2022. Since Friday, the US stocks have been up for the third day in a row and are set to record their best day in almost two years as investors seem less spooked by the Federal Reserve’s moves to cool inflation.
Another reason investors should remain bullish on Bitcoin (BTC) is that despite the bear market, professionals are eager to receive their salary in crypto, according to a Deel industry report. Although professionals don’t mind getting paid in a wide range of coins, Bitcoin (BTC) has dominated the crypto payments scene. The report concluded that more than $47% expressed interest in getting paid in Bitcoin (BTC) across various industries in the past six months.
Disclaimer: For the report, Dell, which is a global payroll specialist, used data from more than 100,000 cross-border contracts across 150 countries and over 500,000 salary data points.
PrivaCrip (PRCR): Privacy To The Masses!
Privacy has always been the cornerstone of crypto and blockchain development, occupying one of the three pillars formulating the industry’s success. One could even suggest that blockchain technology would be obsolete without its immutable privacy feature. Realizing this, the PrivaCrip (PRCR) aims to deliver a network that will be the world’s most protection-empowered blockchain. In order to accelerate the mass adoption of use cases of Web 3.0, the project will create a safe environment for users when sharing information.
Having eyes on DeFi market as one of its primary prizes, the PrivaCrip (PRCR) will solve the privacy issue inherent to the industry by providing a scalable solution that would retain maximum security of users’ data. One of the main tools to achieve this would be through a tool known as Tokenize Data, which many considered a game-changer, laying the foundation for a completely new environment.
By guaranteeing that the information will stay private and can not be reused without consent, this de facto would give control of the data back to the hand of the users. Considering how much information is being recorded in DeFi and other crypto domains, such a project could indeed promise a better future for the crypto industry in the future.
The Bottom Line
The u-Turn that Bitcoin (BTC) is making will inevitably impact other altcoins, and the market will once again reside in the green territory, for now. PrivaCrip will be no exception, and as soon as the presale stage ends, its upward movement should become the done deal. However, always do your own research, even for massively acclaimed projects like Bitcoin (BTC). May the force be with you among the vast blockchain networks!
If you want to learn more about PrivaCrip visit their website for information.
PrivaCrip (PRCR)
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