Highs and lows are not something the cryptocurrency market is not used to. It is a part and parcel of the market and is so widespread that it is one of the market’s most defining characteristics.
The cryptocurrency market throughout 2018 had a rather downhill behaviour. Because after the all-time high that the market had set for itself in 2017, the cryptocurrency market was bound to reset and correct its price trends.
Apart from that, there are many other factors and events that helped the cryptocurrency market fall further in 2017. There were many high profile hacks, there was the SEC crackdown on the ICO sector and of course the infamous Bitcoin Cash hardfork.
Other than that, 2018 was also the year that the underlying technology was put to the test by some of the cryptocurrencies. And some networks gave way. For example, Ethereum. Ethereum lost more than 50% of its initial value because of network fraying.
Scalability became the talk of the town when Ethereum fell from graces to 3rd place in the cryptocurrency market by market capitalisation after having almost becoming a permanent fixture at 2nd largest cryptocurrency in the market.
And from Ethereum many other cryptocurrencies took the hint and pulled up their socks, by future-proofing their networks and finding feasible solutions to the scalability or, in this case, the lack thereof.
But come 2019 and the cryptocurrency market seems to be fixing itself. Bitcoin is once again above $4,000 USD and almost all cryptocurrencies are in the green. Ethereum has a counter-action plan for its scalability issues and is comfortably back at 2nd position in the cryptocurrency market.
Coins like Cardano, Litecoin, NEO, etc are showing double-digit gains and all is well once again in the cryptocurrency market.
Surveyer Reveals, “Positive Sentiments”
A company called AltcoinAnalytics conducted a market survey that revealed the inner sentiments of the cryptocurrency community as a whole. AltcoinAnalytics is a company that predicts market sentiments. They are essentially a sentiment indicator company that conduct surveys.
Based on a survey that they recently conducted in the cryptocurrency market and community, the company has revealed a bullish sentiment. Which basically means that the cryptocurrency community is very positive about the way the market is performing and how it will in the months to come.
The survey further went on to say that the the community believes that the market is more likely to make gains than lose value in the cryptocurrency market.
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