The swift rebound in Bitcoin and altcoins indicates strong accumulation occurring at lower levels.
Bitcoin (BTC) dropped below $30,000 on June 22, which may be a final sign of capitulation. Data from Skew suggests that if Bitcoin’s price does not recover sharply in the next few days, the decline in the current quarter could be the second-worst quarter since 2014. Bull and bear phases are part and parcel of every asset class. All the legacy markets have witnessed several bear phases with massive drawdowns in the past. However, after the bear phase ends, a new bull market begins and long-term investors are usually rewarded with strong gains. The crypto markets are presently witnessing a similar bear market correction.Daily cryptocurrency market performance. Source: Coin360Every bear market is caused due to events that create fear and panic among market participants. However, unless the long-term fundamentals change, the smar
Źródło: https://cointelegraph.com/news/price-analysis-6-23-btc-eth-bnb-ada-xrp-doge-dot-uni-bch-ltc
