Possible Ways to Reverse the Present Cryptocurrency Market Trend

Terra (LUNA) will be a major discussion in the history of cryptocurrencies, but there is a need for the reversal of the present decline, so as to encourage future investors and also increase the trust of different governments that cryptocurrencies could be scams.

Bitcoin and Ethereum whales to hodl

The role of the Bitcoin market in the cryptocurrency market cannot be overemphasized. This is due to its dominance in the market. At the time of writing, according to CoinMarketCap, Bitcoin dominance is 44.9% while Ethereum dominance is 19.5%. This shows that the two top cryptocurrencies in terms of market capitalization are controlling about 64.4% percent of the entire cryptocurrency market. Hence, activities within the Bitcoin and Ethereum blockchains could plunge the entire market into crisis. Hence, if Bitcoin and Ethereum whales could hodl for a longer duration and stop transfers to centralized Cryptocurrency exchanges, this present trend could reverse.

Launch of a new sector in cryptocurrency

One of the reasons why the Cryptocurrency market grew in the past two years was due to the launch of other new areas in the market. Some of them are the Decentralized Finance, Metaverse, Non Fungible Tokens, and the present move to earn tokens. These sectors attracted a lot of investors due to the high yield opportunities they gave to their investors, especially the early ones. This shows that a possible new idea that has not to be harnessed in the market previously could push more funds into the market from the mainstream investors.

Projects to do a buyback

Periodical buybacks by teams handling different Cryptocurrency projects could reverse the present market downtrend. This is because of the buying pressure that funds provided by them would add to the market, therefore, increasing the price of the crypto assets.

Conclusion

In conclusion, a possible reversal is possible if the major players in the Cryptocurrency space want it soon.