4 Cryptocurrencies You Might Want To Sell This Bitcoin Halving

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This past Friday marked Bitcoin‘s fourth halving event. Despite this significant milestone, the cryptocurrency market has yet to experience any noticeable price fluctuations. The total market capitalization currently stands at $2.32 trillion, representing a 1.37% decrease, while trading volume amounts to $72.64 billion, showing a substantial 36% drop. These statistics suggest a lethargic market. Some experts predict that certain cryptocurrencies could experience steep price decreases due to the Bitcoin halving’s influence. However, optimistic forecasts indicate the possibility of a bull run by the end of the year.

In this post, we’ll explore the four cryptocurrencies it might be worthwhile selling prior to their potential price drops.

4 Cryptocurrencies To Sell After This Halving

Based on information from CoinmarketCap, these cryptocurrencies – Wormhole, Starknet, Worldcoin, and Conflux – have experienced the most significant price decreases recently.

Wormhole (W)

Wormhole, a connection point for different blockchains, has experienced a significant decrease in value over the past fortnight. Over 57.38% of its worth, equating to $1,058,159,709, has been lost. The token is now priced at $0.5879 and its market capitalization stands at this figure. A daily decrease of 4.98% resulted in this price point. Additionally, the trading volume has dropped by 17.13% to reach $137,985,778.

Newcomer Wormhole has had a rocky entrance into the market and hasn’t yet established a strong following. Despite reaching a high of $1.62 around 17 days ago, the token failed to sustain its upward trend. It has since dipped below its previous low of $0.4642, and there’s a good chance that market instability caused by Bitcoin halving could further drive down its value.

Starknet (STRK)

The price of Starknet, a decentralized ZK Rollup, is now at $1.33. Over the past month, its value has decreased by 41.34%, reaching an all-time low of $1.15.

This month, Starknet’s price hasn’t rebounded despite the token’s launch price being lower. The reason for this is a combination of insufficient community backing and adverse market circumstances. Consequently, Starknet’s market capitalization now stands at $884,625,405, representing a 4.58% decline. Additionally, the trading volume has shrunk to only $92,912,724 within a single day.

Worldcoin (WLD)

When analysts anticipated that AI tokens would dominate the cryptocurrency market, the Worldcoin price had been consistently dropping.

Sam Altman introduced Worldoin as a cryptocurrency, but its token hasn’t reached great heights yet. Currently, it’s priced at $5.02, and over the past month, its value dropped by 37%. Its market cap is $958 million, and there have been trading volumes of approximately $268 million.

Around late February, the cost of Worldcoin began rapidly increasing. This was around the same time that OpenAI unveiled SORA to the public, sparking an initial boost for the token. Later on, favorable market conditions further fueled the token’s growth.

Conflux (CFX)

In recent times, there have been significant ups and downs with Conflux’s price, and it now sits at $0.2399 following a 36% decrease over the past month. The value of CFX has been steadily declining since late March and remains in a downtrend.

Its trading volume has also faced a fall of $22.60, pushing the value down to $52,922,172.

Conclusion

Considering the potential volatility of the crypto market in the near future, investors would be prudent to exercise caution when managing their holdings. The coming days could significantly impact the value of their investments, so care should be taken when buying or selling cryptocurrencies to minimize potential losses.

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2024-04-20 20:16