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Global Crypto Market Cap Threatens to Break Below Current 2022 Lows

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The global cryptocurrency market capitalization topped during the first half of November 2021, and since then it has been on a one-way ride towards the downside. With the entire market currently trading at approximately 35% below all-time highs, many traders are now wondering whether the sellers are already exhausted, meaning that an upward shift is due in the near future, or whether the bear market still has room to go. 

In such a challenging environment, trading or investing in crypto is tricky, making it difficult for traders/investors to time the market correctly, and spot key support/resistance areas on the chart. All of the variables that drove valuations higher between 2020-2021 (fiscal/monetary stimulus, weaker fiat currencies, and appetite for riskier assets) have reversed, leaving bulls stumbling for the exit. 

Bitcoin weakens below $40k 

Speaking of Bitcoin, the $38,000 area is regarded as key support, which might be one of the reasons why the price is still trading around it. The late-March 2022 rally failed to gather pace and now BTC finds itself trading close to the yearly lows. 

Things are not looking encouraging, not just because Bitcoin lost 40% from its peak, but also based on the market share. During broad crypto selling, the BTC market dominance increased in past cycles. It doesn’t seem to be the case now, as the figure has stabilized around 42% since mid-2021. Investors want to keep a diversified exposure even during a downturn, and this is a clear signal that Bitcoin’s safe-haven status is weakening. 

Major altcoins not showing signs of strength

Anyone who is just beginning to learn how to trade cryptocurrencies should know that this is an environment where caution is advised. Bitcoin aside, things are not looking very good for the altcoins sector as well. Based on the opening price at the beginning of 2022, Ethereum is down 24%, Binance Coin -26% and other tokens such as Solana are posting losses above 50%. 

There this might not be the time for buy and hold, considering that valuations might be even more attractive in the future. It is possible, however, to take advantage of what retail brokerages are offering in terms of crypto trading benefits. With derivatives based on cryptocurrencies, short-selling is a viable option, making it possible to take advantage of bearish conditions. 

Inflation and broad risk appetite

Rising inflation around the world set a chain of events in motion, and these events are clearly not in favor of crypto bulls. Central banks are forced to step in and normalize monetary policies in developed countries, for price increases to diminish towards their target of around 2%. 

Additionally, fiscal spending is taking a few steps back, as governments need to pay higher interest on new debt or refinancing operations. During a time of rising prices, private and institutional investors need to make concessions and prioritize spending. 

In such an environment, the interest in volatile assets such as crypto is very low, which explains the lack of momentum. For the time being, global capitalization is trading around $1.72 trillion and threatens to break below the 2022 low of $1.64 trillion. Until the global economy receives a new round of stimulus, there appears to be little hope for a strong bounce back to a bull run. 

From television to the internet platform, Jonathan switched his journey in digital media with Bigtime Daily. He served as a journalist for popular news channels and currently contributes his experience for Bigtime Daily by writing about the tech domain.

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What Is a Cloud Phone? Features, Benefits, and How to Choose the Best

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Many entrepreneurs today look for ways to better communication in their companies. Maybe you are one of them. This article will make you understand what cloud phone is. Many phone systems are available to small and big companies today. A cloud-based system is one of them. This system is reliable, has a low cost, and has many business-friendly features.

What Is a Cloud Phone?

A cloud phone, also known as a cloud-based phone system, is a phone that allows the user to make calls over the internet. Cloud phones are entirely different from traditional phones that use copper wire to make a connection. Instead, all you need is to have a stable network to access the system.

Features Found on a Cloud Phone

Customers highly prefer cloud phone systems because of the features found in the package. Here are some of the significant features of a cloud-based phone system:

Voicemail

The voice mail feature converts voicemails into text. So you don’t need to listen to every voice mail message. Instead, voicemail transcription helps you read through voicemail messages and grab essential particulars.

Call Forwarding

This feature helps the user direct a call to the desired party. In addition, it makes communication more manageable because it gets to the desired destination.

Auto Replies

In a cloud-based phone system, having your device in hand to reply to a message is not a must. Responses can be made to the sender automatically based on the destined set-off, even when you are far from your device. This makes your client get instant replies when they text.

MMS Support

A multimedia messaging service is used to send multimedia content. For example, it can send GIFS, videos, audio files, and messages with more than 160 characters. This enchants customers who get to view the content.

Scalable Virtual Number Options

The scalable number option is another significant feature of a cloud-based phone system. Growing businesses need more team members; thus, more numbers are required for additional members. You can add more numbers to the account with the scalable number option.

What are the Benefits of Cloud Phones?

Below are the benefits of a cloud-based phone.

Low Cost

The cost of using a cloud phone is low compared to the traditional phone system. The pricing depends on the features and the number of connected lines.

Reliability

Having a reliable line is key to any business. Data stored in the cloud cannot be lost once there is a power failure or other problems associated with the system. In addition, the cloud ensures that the data is backed up and stored in a safe location. Finally, assessing your data keeps you at work, thus minimizing any downtime and increasing productivity.

Scalability and Control

With a traditional phone system, you will find it hard to add a user. But with the cloud phone system, you add a user and are ready to go. Furthermore, the cloud phone system allows you to only pay and use what you need.

Conclusion

When choosing the right service provider to engage with, you should consider reliability, user-friendliness, cost, customer support, and value for money. With all these considerations and sound research, there is no doubt that you will land the best cloud-based phone system that suits your company.

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