For over two months Now, the market has been stagnant. No show of a solid bull in the market. some of my trading friends have abandoned there accounts believing that it might take months before we can see a bull market.
WHAT COULD POSSIBLY BE THE REASON BEHIND THE MARKET SLOW MOVEMENT?
I think in this month, every coin have trying to rise again and we can see the market is on the way to increase. Every coin wants to show the power, and each coin now starts to lift the price. The reason of this is because in the new year, bitcoin dropped too deep and people become panic, and they want to save their money by selling their bitcoin, and it continues and makes the altcoin is followed to get down too. But soon, bitcoin and altcoin will rise again and will get the new position of the price.
Slow movements and less volume are always normal when the market is trying to find a direction. We all know bitcoin movement generally controls the market and for now bitcoin is just in the middle of the bulls and the bears and it depends on who wins the fight in this scenario.
It is a normal thing to see this once in a while, and like I once said, it always usually ends up in a triangle which is what we are having now. I would not consider movement in between $6000 and $7000 to be stagnated as far as I am concerned though.