“It may take Bitcoin and other major crypto assets well over several months to begin showing evidence of accumulation in the cryptocurrency exchange market and on over-the-counter (OTC) trading platforms,” reports CCN. “Until then, most analysts expect a high level of volatility in a low price range, which may lead BTC to revisit its yearly low.”
Some smaller digital currencies could be vulnerable to declines if bitcoin continues scuffling and liquidity in the crypto market remains slack.
“Especially if Bitcoin endures another correction prior to establishing a bottom, perhaps by the end of the second quarter of 2019, illiquid and low market cap crypto assets could experience a free fall without sell pressure, resulting in large losses against both Bitcoin and the U.S. dollar,” reports CCN.
For more information on the cryptocurrency market, visit the Bitcoin category.