Hello guys, the cryptocurrency world have witnessed an rise in fortune in the last one month or so, turning a market cap of 2 trillion USD. Now suddenly we are witnessing red candles. What's going on? Is it a massive correction or are the dreaded bears coming upon us?
Crypto market volatility is high at the moment...I don't think that the price of cryptocurrencies will drop dramatically as long as the Bitcoin price is stable. Bitcoin price is currently very stable and it doesn't look like it's going down to $ 40k yet. I see Bitcoin price will be hard to drop below $ 40k.
At the moment the market is taking a good turn, I do not think it is going to a bullish trend, I think that these days it was in a correction, now my personal analysis coincides with one of this analyst who published on twitter:
Twitter: https://twitter.com/BinanceKiller/status/1375503013259964420/photo/1
It is an analysis that it may be very likely that we will see it, although it is merely speculative, it makes a lot of sense that it occurs.