Will the Cryptocurrency Crash End – If Yes, Then What’s Next?
Will cryptocurrencies prices hit bottom? The crypto coins crash stopped after hitting a 14-month low on Tuesday; the majority of coins are making small sideways movements. The total market capitalization continues to trade in the range of $150 billion, slightly higher from the 14-month low of $141 billion that it touched early this week.
Bitcoin has also pared some losses; the largest coins holds some ground around $4,500 after Bitcoin enthusiasts came to rescue the tumbling crypto markets.
A Rescue From Big Market Players
Binance’s CEO is one among those market players who tried to convince traders that the market isn’t crashing and cryptos are not going anywhere.
In a next tweet, he said: “I wish I could tell you my lame story from 2015 when the $btc price “crashed” to below $200, and I just sold my house and bought in at $600 a few months earlier… Well, I am still here. “
Echoing CZ Binance statement, eToro analyst Mati Greenspan, suggested that investors enter into the market following a sharp crash in prices last week. “With all the falling prices lately, this definitely fits the definition of a buyer’s market,” Greenspan said.
Nigel Green, the founder of deVere, believes it’s the best time to buy crypto coins. He stated: “Now volatility is back and many savvy investors will be using this as a major buying opportunity, perhaps the last one of 2018. Savvy investors understand that digital currencies are the future of money and, as such, they will be capitalizing on the lower prices in order to build their portfolios and shore-up their positions.”
Is the Bull-Run On Way?
The latest crash in the cryptocurrency market was surprising; traders were expecting the market to move higher before Christmas according to the historical trends. They have also been considering several positive signs, such as investments from institutional investors to provide a support to prices. The increasing regulators’ role and the introduction of new technologies to secure crypto exchanges from hacks and price manipulation activities could also add to bulls’ sentiments.
Where are crypto prices moving in the coming days in your opinion? Let us know about your price prediction in the comment section below.