Cryptocurrencies have exhibited unusual stability over the past three weeks, as investors continue to feel their way through a complex system of regulations, technical data and sentiment indicators. Though not nearly as exciting as the first six weeks of the year, the relative calm can only be viewed as a net positive for a market that is still in its infancy, but pushing forward nonetheless.
That being said, recent price action has given us enough evidence to conclude that the bulls are making their comeback. We’ll preface this discussion by reminding investors that the cryptocurrency market is held to a different standard of volatility.
As an example, the market peaked above $830 billion in early January; one month later, it was worth $276 billion. By comparison, the past two weeks have been much calmer, with a total market fluctuation of just $80 billion.
This may seem like a selective time period to prove our point, but it isn’t; the crypto market hit its most recent peak on Feb. 17 with a total value of $518.4 billion.
Since then, it has touched a low of around $420.1 billion and spent the majority of its time hovering between $440 and $460 billion. Since the Feb. Read more from hacked.com…
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