According to Odaily Planet Daily, in the past few weeks, Bitcoin selling pressure from Germany, the United States and Mt.Gox creditors has adversely affected market sentiment. Now, with Bitcoin's mining difficulty dropping sharply, short-term traders are panic selling at a loss, and on-chain analysts believe that the asset may be at or near a local bottom.
Altcoins performed even better than Bitcoin this week, as the EC concluded its review of several cryptocurrencies during the week, boosting the prices of some altcoins.