As Bitcoin Moves Up 4.21%, Theta (THETA) Struggles to Keep Up
Anyone who’s been watching Theta (THETA) this year knows that its movement has been tied to what Bitcoin (BTC) is doing more than anything else. Theta has lost a lot of its own momentum really only moving on the token’s own volition when the Theta platform launched a new coin- TDrop.
This morning, while Bitcoin is up 4.21% to reach $40,652 (BTC/USD) and crossing the $40,000 mark, Theta is up only 2.64% to reach just $2.75 (THETA/USD).
Theta Struggles with $3
Theta has had a lot of difficulty over the last few months trying to get above and stay above the $3 level. That’s a big step down from last year, where Theta stayed much closer to the $4 mark. The last time Theta went through a bullish period was back in early February, where it peaked at $4.088. That was also the last time Theta was above the $4 level.
Estimates are not looking hopeful for Theta that it will pass back across that level again anytime soon. Its time staying higher $4 last month was short lived, and the overall trend for Theta is bearish this year. When this crypto makes any gains, it seems to quickly lose them, even when the overall market is doing better than that.
Theta Is Low? Should You Invest?
There is potential for Theta to move back closer to the $4 level, but it’s more likely to stay right around $3 or plunge even lower. There’s nothing on Theta’s horizon as a token or as part of a larger platform that promises a change in Theta’s future. The most that investors can hope for is that major cryptos like Bitcoin will give it a boost and that the market will improve.
However, the market will probably continue to struggle as it has been recently until the conflict in Ukraine resolves. That has had a serious deleterious effect on the global economy and specifically cryptocurrency as of late. Expect Theta to continue to struggle around or below the $3 mark for most of that conflict’s lifespan, unless there is some unexpected market boost that occurs before then.
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