In the latest episode of Crypto Obsession, the host discusses the current volatility in cryptocurrency markets, highlighting the mixed performance of various coins amidst recovery efforts after a recent market crash. Bitcoin has been exhibiting signs of accumulation following a steep decline triggered by China’s ban on crypto activities, causing many miners to exit the market. As of July 2021, Bitcoin’s hash rate is recovering, with 29% of miners managing to relocate or continue mining. Despite this, the community remains determined to stabilize the coin.
Cardano is experiencing a bearish trend with prices hovering around $1.20, down over 3.5%, yet significant support exists that could lead to a rebound. Earlier this year, Cardano peaked at $2.30, and key support levels suggest the potential for recovery.
In contrast, Shiba Inu is faring relatively well, buoyed by the launch of ShibaSwap and the addition of new pairs, which could drive prices up by 20%. Currently priced at $0.00000738, Shiba Inu shows promise for growth. The video concludes with a reminder to like and subscribe for more updates.