Although Bitcoin seeks to gain any significant buying pressure at current price levels, entire cryptographic markets have been able to publish some relatively large profits, and many crypts have increased today.
Although the recent price action on cryptographic markets is small compared to what was observed in the second half of 2017, both investors and analysts want to see if the current price action means the beginning of a higher price trend that will continue. next year.
Could the coding markets be in the mitted Altseason?
Since the markets of the crypto currency collapsed in early 2018, traders, investors and analysts speculated on when cryptographic markets could return back to – or exceed – their previously established maximum values.
This event was appropriately named "altseason" and represents the mythological resurrection of cryptowood markets.
Mother Greenspan, a senior market analyst at eToro, believes markets are currently in the altseason, as many individual crypts managed to publish decent recoveries from their lowest values.
"As we have been discussing for several weeks now, the cryptographic market is currently under attack by altseason. This is an urgent process where many [cryptos] and the ICO's ICO from 2017 are losing their value, as depositors are depositing them for chips with a higher potential, "he explained in a recent email.
Although most crypts are still 80% or even 90% lower than their highest values, recent pricing measures may indicate that investors believe that markets have already found a long-term bottom and are ready to begin to recover.
Individual cryptographic breakdowns today
As a sign that the markets were really experiencing the altseason today, many individual crypts have increased today and in the past week.
At the time of writing, Cardano (ADA) is one of the most successful cryptovarants since it is currently traded nearly 11% at the current price of $ 0.064. ADA has risen significantly from its weekly value below USD 0.05 and is currently traded at the rate of one month.
This increase is partly due to the recent release of the version of Cardano 1.5, which brings the crypto one step closer to its expected Shelly, which will turn it into a block-chain of proof of input.
Other cryptocurrencies also posted higher prices than average prices today, when Bitcoin Cash (BCH) rose by more than 3%, while Tron (TRX) increased by 5%.
Taking into account the price gains that many individual crypts have experienced over the past few months, it seems that the cryptowood markets may be in the threat of altseason and that the long-term bottom may already be in place.
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