Apart from the nonexistent liquidity and volatility on the cryptocurrency market, some analysts are noticing an unpleasant recovery tendency on the U.S. dollar index that may lead to another plummeting on the cryptocurrency market, which is already going through a tough end to the year. in 2022 was a series of ups and downs: at the beginning of the year, we saw a 60% spike to $0.9, and by the end of the year, the cryptocurrency's price tumbled to $0.34.
could not find any way to retrace and rally upward due to the poor performance of the market, and the network in particular.Despite the high development activity, Cardano's usage as a network for NFTs and DeFi is still too low to create favorable conditions for ADA's market growth. After reaching an almost six-month low on the daily chart, ADA might show us a short-term bounce, but it will most likely happen only in the new year.The macro conditions of the U.S.
Unfortunately, there is a possibility of a negative scenario: in the case of DXY's reversal, we would see an increase in the pressure on the cryptocurrency market, which may lead to yet another plunge to new lows.
$XRP price will continue to be manipulated low until the case is over, we have regulatory clarity, and all the large institutions have time to get in at these cheap prices. Unfortunate but true in my opinion.
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