Volatility on the cripto market - 18 billion disappeared in 2 days

6개월 전

For Christmas, Bitcoin managed to grow to $ 4,300, followed by a 48-hour fall in which the cripto market fell 18 billion. Currently, BTC is traded between $ 3850-3900, with a daily volume of 5.4 billion. Over the same period, Bitcoin Cash suffered a considerable drop from $ 230 to $ 170.

Over the past week, cripto market investors were generally positive about short-term trends. Optimism was fueled by Bitcoin's strong return to the $ 4,000 middle region.


Many analysts have cautioned caution, as the cripto market is still dominated by bears. Expect high volatility on the crypto market in a low price range.


On December 21, "The Crypto Dog" warned that an increase of $ 5,000-5,500 is unlikely in the short term:


"Bitcoin found support close to $ 3,000. Earlier this week, we watched Bitcoin's volatility and noticed the drop in volumes. Decreasing prices has made me wonder if the $ 3,200 support level will be violated. Was. If the bulls are able to push over $ 4,500, then the $ 4800 threshold is the last one that stands in the way to $ 5,400. At this point I do not expect an increase of over $ 5,500 and I can not guarantee it will be able to exceed the $ 4,500 threshold. "


Volatility on the cripto market - Factors

In order for the crypto market to start an upward trend in the medium term, it will have to go through a consolidation and accumulation period of several months. Within this range, the value of cryptomonds should increase gradually against the US dollar.


From August to November, a record rate of volatility was reached on the cripto market. The three months were not enough to stabilize the market and set a solid minimum level.


The $ 3,120, the smallest point in the Bitcoin price in 2018, could be the bottom of the asset. Immediately after the BTC dropped to this level, a large buying wall was created, allowing for market recovery.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.