In the last 48 hours before the editorial deadline, the crypto markets showed the highest daily increase since November. Bitcoin (BTC) rebounded more than 18 percent, rising from $ 3,181 to $ 3,774.
Surprisingly, EOS also increased strongly. As recently as last week, EOS ranked only 6th in the market for the largest cryptocurrencies. The places before EOS occupied Stellar Lumens (XLM) and Tether (USDT). In the last 48 hours, however, EOS rose by as much as 35 percent, overtaking both competitors. The price of EOS jumped from $ 1.94 to $ 2.59. After reaching this daily high, the price eased again slightly.
As the Bitcoin price rose 18 percent, the other major crypto currencies also posted significant gains. These ranged between 10 percent and 40 percent in areas.
What is the trigger and will the trend continue?
Some analysts believe that it is futures markets in the US that have a significant impact on the short- and long-term performance of cryptocurrency.
In any case, the recovery of Bitcoin has disrupted the short-term trend in which Bitcoin was in free fall with no selling pressure and volume. It is conceivable that Bitcoin will recover to $ 4,000 to $ 5,000 in the coming weeks. However, the crypto-trader with the pseudonym “The Crypto Dog” emphasized on Twitter that he believes the macrotrend is still down.
The trend reversed, this is bullish and going higher. IDGAF about your salt. pic.twitter.com/VZltqmG2ue
– The Crypto Dog📈 (@TheCryptoDog) December 18, 2018
Next, “The Crypto Dog” stated that the current trend reversal is unlikely to lead to new all-time highs. Most of the recoveries fizzled out relatively quickly, he wrote. So he explained:
“If this turns into a great bull market and we're back at $ 5,000 to $ 6,000, please do not forget that we're in a macro bear market. The course will not just rise, break and then reach new all-time highs. Repose recoverions, prepare for it. “
The short-term recovery has nevertheless done the market a great deal. With the momentum of Bitcoin, Ripple XRP, Cardano (ADA) and many other cryptocurrencies returned.
The future of the market
Many cryptocurrencies recovered slightly in the last 24 hours before the deadline. However, for the month or quarter, almost all coins have still lost a lot on the US dollar.
For a medium-term trend reversal and recovery, the market must keep the current momentum for several months. From August to October, the market was particularly stable. Then, however, a single sell-off was enough to start the bear market. However, the current recovery is still just right to teach those better off who are already seeing the crypto markets.
Sources: Hacked, Twitter, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-xrp-iota-eos-cardano-kurse-steigen-stark-ist-ein-aufschwung-in-sicht/
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