Currently, BNB, especially after a $600m hack on the BSC Chain, and BTC is over 60% down from an all-time-high, are both in a bear market.
Bull markets indicate prosperous economic conditions. It signals a market rise and is frequently accompanied by confident investor sentiment over the current uptrend.
Meanwhile, a bearish market is the opposite. In a bear market, cryptocurrency value decreases by at least 20% and will continue until 98%.
Price predictions for popular cryptocurrencies like Bitcoin (BTC) and Binance Coin (BNB) indicate they’ll be in a bear market for another 400-600 days, or until the next ‘halving’.
Bitcoin Prices Fall Back On The Verge Of A “Death Cross”
Bitcoin (BTC) is struggling and approaching a “death cross,” making it unlikely that it will break out in the bullish direction. Recent chart patterns show that BTC’s short-term Moving Average (MA) has dipped below the long-term MA.
BTC fluctuated between $18,000 and $19,000 in the past week, trading below the $20,000 mark. BTC is currently priced at $20,125 as of writing.
The week started with a bearish candle that was well below the 100 daily MA until an unanticipated price surge caused prices to decline rapidly.
Since its introduction in 2009, the 20-week moving average of BTC has never fallen underneath the 200-week MA, which led investors to explore other cryptocurrency projects like The Hideaways (HDWY).
Binance Coin Is Losing Its Credibility
During the bull market run from 2020 to 2021, the price of BNB rose significantly, which led to a sharp rise in the coin’s and cryptocurrency’s overall popularity. However, things turned for the worst in December 2021 when the cryptocurrency market began to collapse.
Due to this, economists forecast that if the crucial support at $200 is broken, a further slide to $40 will be impossible to ward off.
Currently, BNB is working hard to reach a bullish trendline. Recently, it has reached a turning point when BNB is up against $292 in resistance. Depending on the RSI movement, the volume, and fundamentals, every currency that encounters resistance is always at risk of rejection.
In the case of BNB, the RSI is overbought with minimal volume and no significant developments.
The Hideaways Is Set To Have An Eventful Year
One of the most promising cryptocurrency initiatives for 2022 and 2023 is The Hideaways. HDWY is bringing the real world into the virtual world, whereas most other crypto initiatives are only focused on creating virtual assets.
People can invest in real estate through HDWY.
Investors will cast a vote to determine which homes will be purchased. All NFT holders will receive rental revenue from NFT properties, which are expertly maintained. For $100, you can earn a minimum of 20% passive income from rental yield and events held at the properties.
Furthermore, The Hideaways ensures that all its investment transactions are safe and secure. SolidProof conducts an audit of the HDWY smart contract, ensuring a transaction free from fraud.
To Learn More About The Hideaways, Visit:
Website: https://www.thehideaways.io/
Presale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
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