RATE Group | Sunday range is a precursor for another big move
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Sunday range is a precursor for another big move

27 Apr Sunday range is a precursor for another big move

Posted at 01:18h in Cryptocurrency News by

  • Negative rates policy is beneficial for cryptocurrencies.
  • Bitcoin and major altcoins are locked in tight ranges.

The cryptocurrency market is a mixed picture on Sunday. Bitcoin and all major altcoins are staying in the ranges amid low trading activity. The total capitalization of all digital assets in circulation settled at $219 billion, unchanged from this time on Saturday, April 25, while an average daily trading volume reached $166 billion. 

From the fundamental point of view, massive monetary injections and negative rates policies adopted by major central banks solidify Bitcoin’s bull case. According to Narayana Kocherlakota, a professor of economics at the University of Rochester and a former president of the Federal Reserve Bank of Minneapolis, Fed’s rates may go negative next week. Several European central banks, as well as the Bank of Japan, have already taken such steps. 

If the FED joins the game, Bitcoin and other cryptocurrencies may get a…

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