It was a long and frustrating week for most cryptocurrency traders as the correction in the two main coins, Bitcoin and Ethereum continued, with a long low-volatility drift that was followed by a decline on Friday. To put the week in perspective, the long-term charts are basically unchanged, even as the short-term moves are being magnified by the recent sharp swings in both directions.
Given the several 100% of gains this spring, the correction is a normal part of the market cycle, and with some of the majors already hitting new highs since the lows last Monday, and the other trading also above their lows, the long-term uptrend seems intact in the sector.
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Great post analysing how the markets have been in the past week
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Hope in a few months the market will recover and be ready to grow even more !
I followed you :)
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Agreed, correction always happens, best time to get in is before it goes up or at correction... it WILL go back up over time... keep telling yourself that!
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BORIS!
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