The crypto market has been on volatile rides recently with Bitcoin (BTC) prices going up and down. After seven days of plunging prices, BTC steadied and regained ground over $27,000. The news is encouraging thanks to other macro and technical signals. The Stablecoin Supply Ratio has declined by 11% over the past eleven days, indicating that buying power is increasing. There is growing mistrust in the traditional financial systems which is playing in the hands of cryptocurrency. This correlation suggests that in the coming weeks, the prices of BTC will remain steady in the range of $25K - $27K before bouncing back to $30K. This is a conducive environment where crypto assets will thrive and despite the volatility, it is only a matter of time before the market soared for another major rally. This strong evidence and further positive sentiment could be a sign of good news investors, merchants and consumers in the crypto world.
Adriana Parker
- 2023-05-15
Crypto Market Poised For Major Rally
After plunging prices for seven days, the crypto market steadied, with Bitcoin (BTC) regaining ground and prices above $27,000. Investors are looking at positive signs such as the Stablecoin Supply Ratio, a growing mistrust in traditional financial systems and more positive sentiment - the market could soon be ready for another major rally.
