The crypto market happens to be in total chaos because of the new COVID-19 variant hitting the globe and causing the financial markets to plummet into a consistent frenzy of losing prices and value for various assets. But that crisis is almost averted because World Health Organization claimed that this new variant is not that lethal and only mild. Given this shred of some good news, financial markets did rebound to a better position, but for the crypto market, it was the beginning of a new nightmare.
Crypto analysts thought that they were done with corrections, and there is nothing ahead but a strong bullish run for all cryptocurrencies; they couldn’t have been more wrong. Bitcoin, Ether, and every other cryptocurrency in the crypto market is suffering from consistent price cuts and loss of performance as Bitcoin succumbs to the minimum of $43K, losing two of its primary resistance spots and Ether falling below the $3500 level. But there has been some improvement as both cryptocurrencies have rebounded, and Bitcoin is now trading well above $43K, and the same is true for Ether as it retains the $3,351 spot.
But the performance of Ether has been more optimistic and delightful in the eyes of investors and crypto analysts than Bitcoin. Also, a pseudonymous crypto strategist by the name of Credible tells his Twitter followers that Ether is going to give consistent performance in terms of this new wave of Corrections, and it is going to get through to this bull market recovery as compared to Bitcoin, which is dwindling still.
He believes that the market is bullish still as the Ether and Bitcoin pair is holding pretty significantly to these hard blows of market corrections. When asked why he thinks that the bullish market is still active, he argued that if it was a bear market, then the Ether and Bitcoin pair would be falling very hard, but it is not and is still holding support. These are the classic signs of a bullish market which, as it happens, is more in favor of Ether than it is of Bitcoin.
