Bitcoin Plunges But Experts Hope For A Bullish Run

Total cryptocurrency payments rocketed 567 percent to $15.8 trillion in 2021, according to Chainalysis

The cryptocurrency market saw a slight downward trend as top coins traded in the red. The global cryptocurrency market cap dipped 1.83% to $1.99 trillion as of 3.17. a.m. ET Wednesday.

Bitcoin was down 1.61% at $43,733. Ethereum, too, dipped 1.55%, CoinMarketCap data showed.

Even as Bitcoin dipped slightly after gaining momentum for the last couple of days, the industry insiders are confident that the top coin could make a "bullish run" towards its all-time high.

"The next key resistance is expected at $50,700, above which we could see Bitcoin making a bullish run towards its all-time high levels," Indian exchange WazirX Trade Desk told International Business Times.

Excluding a slight uptick in Tether and USD Coin prices, all of the top 10 coins plunged. Meme cryptos Shiba Inu and Dogecoin dipped too. Polygon, which hogged headlines after receiving $450 million in its first significant fundraising round, plunged.

Meanwhile, Iotex(IOTX), the auto-scalable blockchain infrastructure for the Internet of things (IoT) recently partnered with ANKR, a blockchain node hosting solutions provider, for building a network of nodes and enhancing infrastructure solutions.

As per the WazirX daily analysis, IOTX gained over 20% in the last 24-hours to be on e of the top performers.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.