This week, encryption market valuation increased by $29 billion, an increase from $100 billion to $129 billion. In bitcoin prices rose suddenly driven, in five days, encryption market valuations soared nearly 30%.
Bitcoin initially rose to $4000, with bitcoin began callback, many technical analysts on the market recently expressed concern about the sustainability of encryption.
Encryption of the market to maintain the momentum? From in recent years one of the biggest selling recovered encryption money market must show a gradual growth and stable value.
A sudden rise in prices of major encryption currency, increasing the vulnerability of the market value fell sharply, especially in the absence of sufficient quantity and trading activities under the support of.
Until today, the daily trading volume of bitcoin is still in does not increase too much, taking into account the trading volume of the assets in the past few weeks, this figure is relatively high. However, in four days for a rise in the price of less than 20% of the assets, the number is still weak.
If after the recent rebound, there was a period of consolidation, provides some support for the market, then the medium-term rebound is still possible. If the volatility of asset classes continued to exhibit such a high, so it can be expected the downward volatility.
Encryption market has shown strong momentum of 1000 billion dollars, this week’s rally may become a reality, because of a sudden recovery caused oversold.