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Over the short-term, it is critical for bitcoin’s fortunes that some positive sentiment emerges so that bullish traders have reasons to reenter the market.
“We will have to wait and see how the price action pans out in the short term and the bulls would be hoping that they would be able to keep the prices higher and in a buoyant manner so that the traders and the investors would continue to be invested into the market. If not, it is only going to increase the speed of the fall and this could place the entire crypto market into jeopardy, which is something that the traders and the investors would not want,” reports FXEmpire.
For more information on the cryptocurrency market, visit the Bitcoin category.