For the sake of clarity an explicit definition of short, medium, and long term is required. In this work short term refers to the 2–4 and 4–8 day period bands. Medium term refers to the 8–16 and 16–32 day bands. Long term will be used to refer to the 32–64, 64–128, 128–256 and 256–512 day bands. The short, medium, and long term bands will be considered separately to begin with, and then considered collectively alongside the results of the GSADF bubble test.
In particular, the activities of miners — cryptocurrency users who leverage vast amounts of computing power to record transactions, receiving newly created cryptocurrency units and transaction fees paid by other users in return — are critical to currencies’ stability and smooth function.

The number of people who utilize crypto coins (i.e., utility) and for what purpose impacts their price. The price will rise if more people use them to buy goods and services rather than just holding them.
The global crypto market cap fell more than 2 per cent to $2.82 trillion mark compared to the last day. However, the total crypto market volume jumped over 31 per cent to $176.91 billion.