Bitcoin tops $22,000, crypto m-cap hits $1 tn. Is tide turning for the industry?

economictimes.indiatimes.com:

Crypto market has scripted a strong recovery in the last one week, with major crypto tokens rising up to 70 per cent. The largest crypto token — Bitcoin surged on Monday to hit the $22,000 mark. Altcoins, meanwhile, beat the crypto behemoth as Polygon zoomed more than 13 per cent. Ethereum rallied over 7 per cent to top the $1,450 mark in the last 24 hours. The global crypto market cap rose more than 3 per cent to reclaim the $1 trillion mark. The total crypto market volume over the last 24 hours stood at $70.38 billion, registering a rise of more than 7 per cent.

Did you Know?

The Shiba Inu team launched a burn portal to help address the issue of the massive supply of SHIB tokens As of June 29, 2022, more than 400 trillion tokens have been burned to cap supply

Edul Patel, CEO and co-founder, Mudrex said that most cryptocurrencies fluctuated a bit over the weekend as bears have become active in the market. «Despite the decline, Bitcoin held firm indicating that the selling volume has come down.» The Crypto industry has been in the doldrums so far this year thanks to failing projects, rising inflation, geopolitical worries, and looming fears of inflation and rate hikes. Market participants believe that it is too early to declare that the worst is over for the industry as the crypto market is headed for a prolonged winter, which may extend further, as more negative news flows in.Avoid catching falling knivesMarket experts said that investors should avoid catching falling knives and understand the fundamentals of tokens before investing. Sathvik Vishwanath, Co-Founder & CEO, Unocoin, said investors should learn to dodge the falling knife in bear markets. «It is very important to understand and