Topic: BTC and ETH Drops as Cryptocurrency Market Hits $300 Billion (Read 142 times)
Well, I do believe that this is still a correction rather than a crash. And with all the FUD's and issuers that's revolving around bitcoin, I also believe that it will take some time for it to recover, unless of course the issues are resolve once and for all. I''m thinking, everything will be settled until late June of this year? Hopefully, of course.
Market value has dropped drastically in the past few months and it keeps dropping, recovery might take much longer than we all thought with news like these.
The low volume on major exchanges BTC and ETH signifies that it may take a few more weeks for the markets to recover. It is normal for any asset market to experience a slump after a major correction and that would last for some time.
Read more here: Cryptocurrency Market Hits $300 Billion
Read more here: Cryptocurrency Market Hits $300 Billion
After the huge crash in value bitcoins is starting again to move up but with the negative news on cryptobanning there was a temporary drop price again. But we can expect that by the end of the year bitcoin will recover back to 20k$. This increase in bitcoins value will also effect Ethereum and other coins in the coinmarket.cap.
In connection with the work of the crypto-market in the past ten days there is one interesting aspect. It consists in the fact that the market has not fallen and has not risen in comparison with the previous levels. He constantly moved up and down in the range of $ 280-350 billion.
Several alternative crypto-currencies, such as Ontology and 0x, "outperformed" the main crypto-coins on certain days. This they probably owe to a short-term surge.
However, last week the whole "core" crypto-market moved up and down. Such large crypto-currencies such as bitcoin, Eth, XRP, bitcoin cache, EOS and Cardano have "jumped", following a similar pattern regarding both downward movements and ascending ones.
Today, March 28, bitcoin showed strong sales volumes. The price of the coin reached 8 200 dollars, tried to maintain this level, but fell to 7 750 dollars. And then again rose to 8,117 dollars at the time of writing the article.
Based on the current trend, it is unlikely that bitcoin will return to the level of $ 9,000, unless there is a large surge in the "purchased" volume on all major exchanges.
Several alternative crypto-currencies, such as Ontology and 0x, "outperformed" the main crypto-coins on certain days. This they probably owe to a short-term surge.
However, last week the whole "core" crypto-market moved up and down. Such large crypto-currencies such as bitcoin, Eth, XRP, bitcoin cache, EOS and Cardano have "jumped", following a similar pattern regarding both downward movements and ascending ones.
Today, March 28, bitcoin showed strong sales volumes. The price of the coin reached 8 200 dollars, tried to maintain this level, but fell to 7 750 dollars. And then again rose to 8,117 dollars at the time of writing the article.
Based on the current trend, it is unlikely that bitcoin will return to the level of $ 9,000, unless there is a large surge in the "purchased" volume on all major exchanges.
The low volume on major exchanges BTC and ETH signifies that it may take a few more weeks for the markets to recover. It is normal for any asset market to experience a slump after a major correction and that would last for some time.
Read more here: Cryptocurrency Market Hits $300 Billion
Read more here: Cryptocurrency Market Hits $300 Billion
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