Even though Bitcoin is no longer a regular guest in most of the crypto's coverage, the news of the markets didn't freeze despite the winter. This entire week was rather busy, as most of the news started on the right foot. It was all until last Thursday, however, when Bitcoin flash crashed on the Kraken cryptocurrency exchange, shortly before the news about the lawsuit against Tether was published. Naturally, the market and the community reacted sharply as there were suspicions of using insider information leading to the panic in Kraken. On the other hand, after a few very positive weeks in the field of Altcoins, corrections brought some of them back to the support levels we saw at the beginning of the year, hence eliminating profits made in 2019. However, it's still difficult to determine a clear trend direction for this market who's looking up for a Bitcoin reaction. At the same time, however, it's safe to say that the market is maturing and that the Wild West which characterized it since inception, crystallizing more towards efficiency. As the bear market progresses, we expect that the place of altcoins will be challenged. Looking past price volatility, nevertheless, it's possible to see that the infrastructure of the sector continues to expand. Significant partnerships are being made between crypto-oriented companies, as well as conventional giants such as Disney and others. This marks a positive sign which comes after about a year and a half of the bear market. It's certain that the floor looks closer than ever following 2017's unprecedented bull run and we may have actually seen it for Bitcoin at around $3,120. For the optimists among us, the last time we saw the Golden Cross graph, the trend started to look even more positive. |
On Which Exchange Bitcoin Plummeted $1000? Crypto Weekly Market Update