RATE Group | Crypto Market Posts Minor Recovery But Bitcoin Downward Trend Still Strong
28181
post-template-default,single,single-post,postid-28181,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Crypto Market Posts Minor Recovery But Bitcoin Downward Trend Still Strong

25 May Crypto Market Posts Minor Recovery But Bitcoin Downward Trend Still Strong

Posted at 13:35h in Bitcoin News by

[ad_1]


Bitcoin price all-time high

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month.

As CCN reported yesterday, on May 24, the bitcoin price dipped below $7,250 as a massive sell-off from the $7,700 mark intensified. After three consecutive sell-offs within a 24-hour period, the price of bitcoin dropped from $7,900 to $7,250, eventually stabilizing at $7,400.

Bear Market

The cryptocurrency sector is in a short-term bear cycle. In a highly volatile period like this, positive developments and events that would otherwise lead to a significant surge in the valuation of the cryptocurrency market often do not affect the market in a major way.

As such, in spite of the entrance of financial institutions like the New York Stock Exchange, Goldman Sachs, and JPMorgan, the cryptocurrency market has continued to decline.

Based on the price trend of BTC over the past two months, it is possible that the correction continues to the higher end of the $6,000 region, considering the overly…

[ad_2]

Article Source

Tags:
, , , , , , , ,