The latest Analysis for crypto Market on March 16th

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The latest Analysis for crypto Market on March 16th

Posted OnMarch 17, 2020 0

It has been a crucial week for the global cryptocurrency market. According to ethereum latest news, the price of the cryptocurrency has dramatically gone down for each risk-heavy asset. It is believed that it is due to the coronavirus that has ramped many countries worldwide. However, major crypto markets have taken this matter like the negative economy sign.

In the past several days, cryptocurrency has proven to the entire world how it is a risky investment. It happens when it already matters a lot to most people; it even exposed Bitcoin as a risky asset that the majority consider as the most speculative investment.

Even though it may seem like a bad thing has happened, but it is high time everyone out there to accept the reality. It has reached a point whereby a Bitcoin price is the only single thing that matters a lot in the Crypto market. Below are sensitive facts that it expected to take place in the entire crypto market:

BTC graph

On the higher timeframe, BTC appears primed for trading between descending channels. In case it doesn’t cut the range low, it is based on 3,850. It is easy to comprehend where the situation is heading with an extended time frame. Based on the previous week that was closed, It is incredibly untestable. It already has 2019 lows of $3120. So, it should be surprising, but seem scary.

Ethereum / US dollar

Altcoins don’t matter, but Ethereum is widely known as the most dominant asaltcoins. Therefore, it is worth looking into so that you can examine the entire sentiment. It is another scary weekly candle dimension, but it was expected.  If you’ve been following the market updates, probably this volume concept has puzzled you.

Conclusion

Everything is perspective, so you should be flustered because of this circumstance since it is currently happening to almost all investors across the globe. Just train yourself to be hardworking and take it as a training exercise against the risk assets over-allocation. Stick on this website to get more updates about ethereum latest news.