Overview of the cryptocurrency market. Is everything so rosy?
The cryptocurrency market shows phenomenal growth. This upsurge excited the buyers. BTC pleased investors and traders with 10% growth, the price of the coin was fixed at $7 422. The Ethereum showed a more modest increase of 6% and $502 respectively. The price for Ripple rose 8%, you can buy the currency for $0,504. The total capitalization of the digital market is $299 billion, daily volumes are approaching $20 billion.
To such a powerful growth of cryptocurrency led positive fundamental components. These include the news about BlackRock and the listing of new coins at the cryptocurrency exchange Coinbase. I would like to recall that in the previous weeks, favorable news was often heard, but the cryptocurrency market did not react to them at all. For a long time he was in the corridor. It is this fact that puts you in doubt. What if it's a bull trap?
The average sliding allows "strong buying", while other trading indicators are in a neutral position. But the result remains the same - I'll buy the purchase dangerously. The probability of an early rollback to levels lower is high. The situation is similar to the attempt of large players to again earn on tired of the eternal fall of investors. Market sharks understand that after a persistent finding of the price in the trade corridor, a sharp breakthrough to the top will cause panic purchases on the market.