To bulls, factors like the absence of large sellers, persistent holding by long-term investors and the cryptocurrency's resilience in the face of turmoil in traditional financial markets provide hope.
To bears, the current lull is reminiscent of September-October 2018, when the largest cryptocurrency held steady near $6,000 for weeks before slumping almost 50%.
Over the weekend, pseudonymous analyst and swing trader il Capo Of Crypto explained to his 540,000 followers that much like the 2018 consolidation near $6,000, current trading around $20,000 represents a temporary pause that will pave the way for another price sell-off.
According to il Capo Of Crypto, the market is exhibiting a downtrend, followed by temporary consolidation with an extended drop yet to come.
In first-half 2018, the cryptocurrency crashed to $6,000 from almost $20,000. It traded sideways around $6,000 between August and early November, convincing many traders – including the likes of billionaire investor...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...