Bitcoin, Ethereum, and Other Cryptocurrencies Maintain Stability

The crypto market is in for a rough ride.

Two weeks ago, Bitcoin was trading above $21,000, prior to the unraveling of FTX. The two-week meltdown pushed Bitcoin to its lowest price this year. And the same with bitcoin, Ethereum also experienced a decline after failing to surpass $1,300. ETH closed below the 100 hourly simple moving average and fell below the $1,220 support level. Although the values of bitcoin and Ethereum have stayed low in comparison to the previous year, both currencies have been fairly stable.

The biggest cryptocurrency by market cap has maintained stability above its most recent $16,000 support, rising a little percentage point during the previous 24 hours. The second-largest crypto in market value, ETH price stood at $1,258.55, marking a 24-hour gain of 4.55 percent at the time of writing.

Other well-known cryptocurrencies, including Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), also showed positive price movement as overall prices saw slight increases in all markets. The Quant (QNT) token, which saw a 24-hour increase of more than 23 percent, ended up being the greatest gainer.

Although some crypto experts are predicting that the price could dip to lower levels, investors' confidence remains unshaken. In fact, if you're in a strong financial position and are prepared to invest, experts advise buying bitcoin or Ethereum now while prices are low, bearing in mind that they may decline much further in the future.

In addition, the well-known advocate of cryptocurrencies, Kevin O'Leary, believes that the present crisis in the market will mark a turning point and stabilize the crypto industry.

At the time of writing, the global crypto market cap stood at $887 Billion, registering a 24-hour gain of 2.24%.