Following the slight decrease from two days ago, in today’s Bitcoin news, the price slowly retraced to $6,595 while gaining momentum, despite the 0.86% drop in the past 24 hours.
The entire market’s volume went from $13 billion to $15 billion in the past five to seven days where the volume of Ethereum has also gone up to $2.2 billion and also Ripple gained 4.10% in the past 24 hours.
As this month comes to an end, we could sum it up as the crypto market shows daily trading volume recovery and show more activity in just 5 days than it did the entire month of September. The entire market is on its way of a powerful corrective rally. As a matter of fact, the following 10-15 days will be very important for Bitcoin since in those days the price trend for Bitcoin can be predetermined for 2019.
Since the start of the year, Bitcoin went bouncing back and front from an inferior position to growing upside momentum. Later in April, June, and August, Bitcoin bounced back to $11,000 but went down each month by $1,000 to finally achieve the current price point. Many analysts believe that the following two weeks will determine the mid-term trend for Bitcoin.
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One of them is Josh Rager who explained:
“BTC with each passing month it’s taken less time to reach the ’lower high.’ The next two weeks will bring to higher highs (pushing out of bear market). Or will send BTC in a cold dark bear winter that last months BTC doesn’t have long to choose its path.”
As for the other major players such as Ethereum and Ripple, both recorded large gains in the past week and also volume incensement despite the overall negative state of the market.
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