I have read an article on Coinquora, The Crypto Market Capitalization reached $2.272 trillion last week. However, the crypto market stays bearish for more than seven days; will it bounce back, or will it be more bearish.
While Bitcoin has been moving downwards after reaching the all-time high of $66,000 on April 17. The crypto further fell on April 18, making a drop to a low of $50,931. However, this generated a very long lower thread, confirming the $51,000 area as support.
Crypto Market Cap: Will it Bounce Back or Become More Bearish?A high market capitalization doesn’t necessarily mean that bitcoin will be increasing.
Don’t forget that there are so many other cryptocurrencies out there, so it might just be funds going into those altcoins that are blowing the market capitalization. If you follow the market closely you will see there are other coins that are going up at this time.
And of course bitcoin can go into bear market anytime from now, but there will still be other coins that are going to be bullish. It’s not like they are all going to start going down when bitcoin is going down.