FinancialCentre Broker Breaks Down Cryptocurrency! (BTC, ETH, LTC, ADA, TRX): What is happening to the crypto market?

London, UK, 5th Feb 2022, ZEXPRWIRE, Since the introduction of cryptocurrency to the world, it has been a subject of great interest for many investors and traders. FinancialCentre Broker Ryan Kerry says market capitalization is growing exponentially over time as more and more people are starting to invest in cryptocurrencies.

However, given that this is a relatively new development in today’s financial arena, we can see big variations between the currency’s rates.

Top Cryptocurrencies:

Now that you have a better understanding of what cryptocurrency is let’s look at the top 5 cryptocurrencies (in terms of market capitalization) today (February 2022). We will also discuss some of the factors to consider when looking for an investment opportunity.

Bitcoin (BTC):

Bitcoin (BTC) returned at over $38,000 on the last day of January as selling pressure is wearing off after a rocky start to 2022. The strong momentum of late January and early February has resulted in a jump of almost $10,000 (since 22 January), and the currency is currently trading at around $38,500. It came out as the best performing currency of 2022 (YTD), gaining over 126%.

Bitcoin has attracted a lot of attention for a good reason. The world’s first decentralized cryptocurrency, Bitcoin, is traded on specialized exchanges worldwide 24 hours a day. With an average volume of over $890 million per day, it makes it one of the largest markets in the world.

Another factor that has pushed Bitcoin forward is that it has a limited number of coins available for trade (21 million, to be precise). As such, the currency’s value depends solely on trading volume. As demand increases, so does purchasing power which makes this cryptocurrency valuable during the year.

There are many reasons why you might want to invest in Bitcoin. Some of the most notable reasons include:

Bitcoin is a decentralized currency that is not subject to government or financial institution control. This makes it an attractive investment opportunity, as it removes the risk of your investment being impacted by decisions made by third parties.

Bitcoin is one of the oldest cryptocurrencies available and has been operational since 2009. It has a proven track record and is unlikely to be shut down or abandoned.

Bitcoin is traded on specialized exchanges worldwide 24 hours a day, making it one of the most liquid cryptocurrencies available. This liquidity ensures that you can always buy or sell Bitcoin when you need to.

Ethereum (ETH):

After hitting an all-time high above $2,500.25, ETH cooled off quickly after the start of the year. Currently, the currency trades around $2,706.25. However, some signs suggest we may see a recovery shortly and that it could challenge its all-time high again. One of the most important factors to consider before investing in cryptocurrency is historical performance.

Ethereum has shown great potential throughout 2017 and 2018, and this seems to be the case for 2022. It comes in 2nd place when we look at YTD gains, gaining 123%.

There are many reasons why you might want to invest in Ethereum. Some of the most notable reasons include:

1. Ethereum is a decentralized currency that is not subject to government or financial institution control. This makes it an attractive investment opportunity, as it removes the risk of your investment being impacted by decisions made by third parties.

2. Ethereum has shown great potential throughout 2017 and 2018 so far, and this seems to be the case for 2022 as well. It comes in 2nd place when we look at YTD gains, gaining 123%.

Cardano (ADA):

Cardano (ADA) has shown some interesting price movements in the past few months. It trades for around $1.04 today, 70% up from its January lows ($0.042). At the beginning of 2018, it was trading at just $0.02, and as such, we can see that it made quite an impressive return.

ADA recovered well from its early-year lows and came back at around $0.06 in May, an improvement of over 300%. However, the currency hit another low in September 2018 but quickly jumped up to current levels, where it has been consolidating ever since.

There are many reasons why you might want to invest in Cardano. Some of the most notable reasons include:

1. Cardano is a decentralized currency that is not subject to government or financial institution control. This makes it an attractive investment opportunity, as it removes the risk of your investment being impacted by decisions made by third parties.

2. Cardano has shown great potential throughout 2017 and 2018 so far, and this seems to be the case for 2022 as well. It comes in 2nd place when we look at YTD gains, gaining 123%.

3. ADA recovered well from its early-year lows and came back at around $0.06 in May, an improvement of over 300%. However, the currency hit another low in September 2018 but quickly jumped up to current levels, where it has been consolidating ever since.

Tron (TRX):

The graph of TRON gives us more evidence that the coin is on the rise again. It repeatedly hit lower lows throughout late January of $0.04 before bouncing back to $0.056. That is an improvement of over 30%.

Tron is a cryptocurrency that aims to decentralize the web and change how we interact online. The network’s native coins are Tronix (TRX), and you can buy them on popular exchanges like Binance or Bittrex.

The Tron project is still in the early stages of development, which means that there are still plenty of opportunities to buy low and sell high. There are many reasons why you might want to invest in Tron. Some of the most notable reasons include:

1. Tron is a cryptocurrency that aims to decentralize the web and change how we interact online. The network’s native coins are Tronix (TRX), and you can buy them on popular exchanges like Binance or Bittrex.

2. Tron is still in the early stages of development, which means that there are still plenty of opportunities to buy low and sell high.

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.