Analyst on why Bitcoin and crypto may be in the midst of a “mini bear market”
BTC $35,712 (-0.5%) • ETH $1218 (-1.5%) • DOT $16.76 (-0.2%)
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If you look at Twitter, it may appear that the crypto market is anything but bearish.
Friday and Saturday were marked by extremely strong rallies in the prices of altcoins, despite consolidation in the two leading cryptocurrencies.
Many small caps, medium caps, and even large-cap altcoins enjoyed gains of 10-50 percent yesterday, resulting in a sharp decline in the Bitcoin dominance to 65 percent as of this article’s writing. Earlier this week, the metric was as high as 68.5 percent.
But this price action hasn’t convinced all analysts that Bitcoin, Ethereum, and the rest of the market are ready to move higher.
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