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Avalanche could drop below $10 – Here is why

Avalanche, like many major coins, has had some reprieve from the crash we saw at the start of the week. Although the coin is down 3% over the last 24 hours, it has managed to stabilize. However, the altcoin is not out of the woods yet; in fact, another major sell-off could be on the way. Here is what you need to know:

  • Low trade volumes in crypto could precipitate a liquidity challenge for AVAX

  • The prospects of a global recession and tight monetary policy are major risk factors.

  • AVAX could drop nearly 50% and bottom below $10 in the coming weeks.

Data Source: TradingView 

Avalanche price analysis and prediction

At the moment, Avalanche appears to be in a consolidation phase. However, this does not mean there is likely bullish momentum. In fact, this consolidation is basically a small reprieve from the massive sell-off reported earlier in the week. We expect Avalanche to resume the downtrend owing to weakened demand in crypto and wary investors. 

Also, as trade volume in the market slows, altcoins will likely face liquidity challenges. This may contribute to a major downfall in the near term. At the moment, AVAX is trading at around $16. The coin still has strong support at the $12 mark. 

However, we don’t think bulls have what it takes to hold it. Instead, AVAX will slide down past $12 and settle at around $9. This will represent a 50% drop from the current price. Nonetheless, this thesis will become invalidated if AVAX reclaims $20.

Why is AVAX falling?

Well, it is a combination of many things. For instance, the overall sentiment in crypto has slowed. As such, coins like AVAX are facing major headwinds. 

Also, we have not seen any major rally for AVAX this year. It turns out that 2022 is a year of corrections. As such, the coin could drop below $10 for the first time in 12 months.

The post Avalanche could drop below $10 – Here is why appeared first on CoinJournal.

Millennials ‘Enthusiastic’ About Crypto As Majority Say Stock Market Investing Is Too Risky: New Study

Covered: Millenials Enthusiastic About Crypto Low confidence In Stock Market Millenials Enthusiastic About Crypto A firm allowing clients to fund retirement accounts with crypto is revealing how millennials view the stock and digital assets markets. A new study by Alto surveyed 1,200 millennials aged 25-40 with at least $2,500 in investable assets and $35,000 in household::Listen

Covered:

  • Millenials Enthusiastic About Crypto
  • Low confidence In Stock Market

Millenials Enthusiastic About Crypto

A firm allowing clients to fund retirement accounts with crypto is revealing how millennials view the stock and digital assets markets.

A new study by Alto surveyed 1,200 millennials aged 25-40 with at least $2,500 in investable assets and $35,000 in household income.

The research finds millennials are enthusiastic about virtual assets as 39% of them hold crypto. Seventy percent of millennials who own crypto and have an individual retirement account (IRA) also hold digital assets in their IRAs.

“When it comes to interest in digital assets, the vast majority of millennials either own crypto or are considering it. Almost 40% of millennials own crypto, which is greater than the percentage of millennials who own mutual funds and about equal to the number of millennials who own individual stocks.

Those who own cryptocurrency are likely to include it in their retirement portfolio. Over 70% of millennials who own crypto and an IRA, hold crypto in an IRA.”

Low confidence In Stock Market

The survey also reveals that millennials have low confidence in the stock market as 74% of those surveyed view equity investments as a gamble.

The data also shows that 76% of millennials worry a market collapse could wipe out their savings while 65% of them say they can’t count on the stock market to provide the annual returns it did in the past. Furthermore, 60% of them believe that it’s difficult to generate consistent gains in the stock market unless one is a professional investor.

“For millennials, the prevailing attitudes toward retirement are those of stress, fear and confusion. There is a clear concern about the riskiness of stock market investing. The main concerns for millennials revolve around the ‘gamble’ of investing, a lack of faith in the current market and the belief you need to be a professional investor to be successful…

Predictably, less than half (42%) of millennials are very open to investing in the stock market. Of those who have invested in the stock market, 71% feel that their investment portfolio could be better diversified.”

Recommended: Which Countries Are Using Crypto The Most?

*This article originally appeared in The Daily Hodl

The post Millennials ‘Enthusiastic’ About Crypto As Majority Say Stock Market Investing Is Too Risky: New Study appeared first on CryptosRus.

Avalanche could drop below $10 – Here is why

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