PR

Bitcoin And Ethereum Believers Are Looking For New Projects - Is Persystic On Their Radar?

Bitcoin And Ethereum Believers Are Looking For New Projects - Is Persystic On Their Radar?

2022 has not been the best year for cryptocurrencies as yet. Several events, such as the Terra Luna collapse and the recent crypto crash, had a significant impact on the crypto community and beyond it.

Even though the market crash is considered a normal part of the bear and bull market cycles, for a lot of crypto newbies, the crash had a negative effect that was too much to handle. Additionally, the crypto industry lost over two-thirds of its value in just a couple of months.

However, despite all the losses, many experienced crypto investors are now holding onto their major investments in Bitcoin (BTC) and Ethereum (ETH) but also intend to expand their portfolios by adding riskier yet potentially rewarding alternative cryptocurrencies. Does Persystic (PSYS) have what it takes to get onto the radar of experienced crypto enthusiasts?

Is Bitcoin (BTC) On The Path Of Recovery?

July became Bitcoin’s best month in 2022 as yet, since it closed the month with a 17% surge. After a few devastating months, Bitcoin finally overcame the line of $20,000 and has since been trading above it.

The bullish movement over the past few weeks has led crypto enthusiasts to wonder what’s next for the crypto market leader. While typically, August and September months are more likely to be in the bear territory as per historical performance, the sentiment in the crypto community is finally past the negative phase.

Ethereum Merge Is Making The Headlines

The upcoming Ethereum upgrade, referred to as the Ethereum Merge, is currently among the most discussed topics in the crypto community. This is closely related to the fact that its testing is happening this week, and further implementation is scheduled for the next month.

Ethereum blockchain will transition from its proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism. The update will bring multiple benefits to the network, including reducing transaction costs, increasing scalability, and alsomaking the platform more environmentally friendly by over 99%.

The transition to the PoS protocol has been deemed necessary because of the expansion of the Ethereum network, which resulted in several congestion issues and high gas fees. However, it has also raised negative feedback from some community members, which are not particularly excited about the upcoming merge.

 

Investment Disclaimer
Related Topics: 

You may like