The Bear Market Takes Over Bitcoin (BTC) and Ethereum (ETH): VC Spectra (SPCT) Is the Winning Play
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Bitcoin (BTC) and Ethereum (ETH) are the leading cryptocurrencies that affect the whole market. However, they have recently fallen victim to the bear market. Only a few tokens have survived this massive drop.
VC Spectra (SPCT), on the other hand, has more than stood its ground. It is among the best, if not the best, crypto projects. It comes with native tokens that have already reached $0.025 (a 212.5% increase) and are in front of another 220% surge.
Bitcoin (BTC) Suffers from Liquidation across Trading Venues
While June was overall a bearish month for many cryptocurrencies because of the negative market conditions, July was more favorable, helping Bitcoin to show green signs again. However, the favorable price of Bitcoin (BTC) lasted only for two weeks. As soon as July entered the second half of the month, Bitcoin (BTC) dropped because of liquidity issues.
However, it seems like the second half of August is not better. The Fed raised concerns about inflation that can cause more rate hikes. Besides this, on August 17, 2023, the crypto market faced the largest Bitcoin (BTC) liquidations since June 2022. This additionally decreased the price of Bitcoin (BTC).
SpaceX recently wrote down the value of Bitcoin (BTC) by $373 million and sold it. But because Bitcoin (BTC) faced a significant price decrease due to mass liquidation across trading venues, the pressure on the coin is now enormous. Bitcoin (BTC) is currently available for $26,290.04 after declining by 7.54%. Its trading volume in the last 24 hours is up by 105.89%.
Crypto analysts forecast an upward movement of Bitcoin’s (BTC) price in the upcoming period, but only after the pressure decreases.
Ethereum (ETH) Struggles Because of Crypto Liquidations
Ethereum ended July quite bearish because the market was in terrible condition. But at the beginning of August, Ethereum attracted attention because it submitted 11 Ethereum (ETH) requests to the SEC. This put additional pressure on the coin, causing a further price decrease.
Shortly after that, Ethereum (ETH) partnered with Stader, enabling investors to stake ETH tokens while maintaining liquidity. Luckily, this gave hope to investors as the crypto market encountered liquidity issues again.
However, Ethereum (ETH) turned red again after XRP surpassed it with more daily transactions on August 16, 2023. Luckily, Ethereum (ETH) surged by 11% in the previous 13 hours as the SEC agreed to approve futures EFTs. But this changed when Ethereum (ETH) faced $304.78 million worth of ETH tokens liquidated.
Currently, Ethereum (ETH) is down by 6.45%, standing at $1,674.63. All of these events contributed to an increased trading volume of 178.34%, which is too much for the coin.
But experts don’t lose hope. They state that Ethereum (ETH) will rebound once the whole situation with the liquidations goes under control and the pressure drops.
VC Spectra (SPCT) Acquires a Price of $0.025 before Stage 3 of Presale!
VC Spectra (SPCT) is a decentralized hedge fund that comes with dividends and buybacks from investment profits, voting rights, and unlimited access to ICOs. It even includes peer-to-peer trading and asset management that doesn’t require intermediaries.
What makes VC Spectra (SPCT) even better is its ability to choose fantastic passive income opportunities. It implements risk management principles like algorithmic and systematic trading strategies to do this. As a result, you get projects with minimum risks.
Moreover, VC Spectra has standard BRC-20 tokens that allow decentralized trading, exchanging, managing assets, and paying transaction fees. SPCT tokens follow a deflationary model with a burn mechanism.
Before the presale, VC Spectra tokens raised $2.4 million. Then, on July 19, 2023, VC Spectra (SPCT) got into Stage 2 and surged by 37.5%. Initially, SPCT’s price reached $0.011, which jumped to $0.025 on August 17, 2023. Overall, VC Spectra (SPCT) experienced a 212.5% boost from the beginning price of $0.008.
But once the presale ends, VC Spectra (SPCT) tokens will be available for $0.08 on major popular exchanges. In other words, SPCT tokens are currently waiting for their 220% growth!
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