The cryptocurrency market shows a positive rally, which means good news for your cryptocurrency portfolio; however, there are ways to ensure that your portfolio produces a much higher return by doing it right. In this newsletter, we'll help you identify hidden gems on the market that have the potential to do just that, so read on!
Featured of the week
Here are some of the recent developments in the market:
- Last week, the cryptocurrency market did not see much growth. However, things have changed this week. The currencies are moving towards recovery. According to CoinGecko, Bitcoin is up almost 5 percent in the last 24 hours. โ making the new value $40,791. It crossed the $41,000 mark during this week. The new price of Ethereum is $2,076, that is, 6% more than yesterday.
- The President of Ukraine officially signed the law 'On Virtual Assets', which will legalize and regulate cryptocurrencies in the country.
- To combat money laundering more efficiently, Argentina will add crypto companies to the AML (anti-money laundering) rule.
- The US Department of Justice has decided to prosecute cybercriminals for engaging in illegal cryptocurrency practices. Nation-states like North Korea and Iran will be scrutinized for prosecution.
- Afghanistan's economy has been in shambles since the arrival of the Taliban due to the imposition of US sanctions and declining foreign aid. However, this could change as the country has announced that it will finally move towards cryptocurrencies.
- Binance, the world's largest cryptocurrency exchange, has received a license to operate some of its operations in Dubai.
- According to a Kenyan government official, in the last fiscal year, Kenyans lost more than $120 million in crypto scams.
Fear and Greed Crypto Index
It can be seen that the major cryptocurrencies are trending upwards, indicating a bullish outlook for the market. Furthermore, there has also been a 3% increase in the global cryptocurrency market capitalization over the last twenty-four hours. However, a smart investor will make sure of market sentiment before opening a position and one of the most foolproof channels for that is the crypto greed and fear index. This index combines various sentiment analyzes into a single number.
Crypto Fear and Greed Index Shows Market Has Been Mainly Bearish in March; however, in recent days, an uptrend has started to form. At time of writing, the index suggests a value of 27, indicating fear. Sentiment has gone from extreme fear to fear and if the market continues its momentum, it may soon move towards neutrality.
