Over the past seven days, the capitalization of the crypto market has increased to 140 billion dollars and continues to grow. Altcoins reacted positively to the upward movement of Bitcoin, the optimism of traders also grew significantly. However, some cryptanalysts warn about the dangers of early euphoria - the bullran will not start until the main cryptocurrency breaks through the level of $ 4,600.
No growth, only stagnation
The trader under the name DonAlt also warned everyone about the danger of broken hopes. Increasing the value of Bitcoin by just a few percent cannot be considered a full-fledged bullran. A global uptrend will be formed only after a successful breakthrough of the $ 4,600 line and steady growth up to $ 6,000.
The fundamental background around Bitcoin is replete with positive news, but the cryptocurrency still does not leave a narrow horizontal channel. Why? One of the reasons is the lack of sources of inflow of new capital in cryptographic markets. In such a situation, there is simply no one to trade and the volatility drops to zero. And as you know, it is she who is the necessary "fuel" for the growth of Bitcoin.
DonAlt also noticed an interesting trend - against the background of the Altcoin pampas, market capitalization has not increased so much. In other words, now money in the industry is flowing from projects to projects, but no clear inflows from outside have yet been discovered.
And yet the growth of Ethereum from $ 80 to $ 160 over the past couple of months gives at least some hope.
Optimism really hovers on the market since ETH was able to rise in price to $ 160. This movement gave confidence to both traders and investors; many believe that the Altcoins are gradually returning from hibernation. Optimism is equal to the volume, so the activity of market players has greatly increased in recent times.
