Gnox (Gnox) 52% Price rally while Bitcoin (BTC) and Ethereum (ETH) are still fighting Bear

June 4: The bear market – an idea that breeds fear in investors everywhere. Markets are not too different from seasons as both are cyclical- the same patterns go on to repeat themselves. The central difference being seasons have a set time of roughly three months. Market cycles are influenced by multiple factors and thus have no actual set lengths. But broadly follow a pattern: accumulation phase, uptrend phase, distribution phase, and markdown phase. Current market conditions globally indicate a prolonged bear market and the start of a long drawn out recession. 

 Bitcoin (BTC) 
 
Bitcoin currently trades at $29,000, and the majority of experts predict that Bitcoin will experience sideways movement in the coming months, trading in the high 20s and low 30s. Bitcoin has experienced huge growth as an asset. Over the past few years, it has been recognised by institutional investors as a bona fide asset, which has led to coupling with traditional markets. Watch the direction of the NASDAQ, and Bitcoin will likely follow. With current market conditions- rising inflation, global uncertainty, and rising interest rates- Bitcoin will continue to struggle to appreciate in price. In basic terms, people are scared, and when people are scared, they sell their riskier assets and Bitcoin is categorised as a high-risk asset. Greater sell pressure leads to price depreciation. 
 
Ethereum (ETH) 
 
Ethereum is the second-largest cryptocurrency by market capitalisation. Currently trading just below $2000, down more than 60% from its All-Time High (ATH) in November 2021, where it was trading close to $5000. Ethereum struggles with the same problems as Bitcoin seen as a high-risk asset, and it is quickly offloaded during times of market uncertainty. Ethereum will continue to put in lower lows until finally, there is a grand capitulation. It reaches price investors perceive to be a bargain, and slowly buying pressure will revert its downward trend. A catalyst event could well be the release of Ethereum 2.0 or ‘Serenity’ seeing a significant overhaul to the Ethereum blockchain by implementing Proof of Stake (PoS) in place of its current Proof of Work (PoW) consensus mechanism. But this upgrade has already been delayed multiple times. 
 
 Gnox (GNOX) 
 
Gnox is a brand new type of reflection token seeking to bring yield farming to be ordinary and institutional investors alike. It is the first protocol to offer yield farming as a service. Gnox, despite prevailing market conditions, has, in fact, seen its price rise by 52%, and many investors are wondering why. During times of market uncertainty, investors buy stable coins, they facilitate a regular store of value, and when the investor decides the time is right, they can purchase other assets. It prevents loss of capital due to market volatility. Gnox is a protocol that reflects stable coins to its token holders through its purpose-built treasury funded by buying and selling taxes. A huge driver in this token’s price appreciation is that it is designed to provide passive income to its token holders that will theoretically increase over time with the treasury constantly expanding. Investors are betting on this token’s ability to offer stable coins in the current financial climate. 
  
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 Website: https://Gnox.io