Will the Rise in Bitcoin (BTC) and Altcoins Continue?
The last few months have undoubtedly been challenging for crypto markets. Despite the rapid rise at the beginning of the year, we seem to be trading in a range for some time now.
June was particularly brutal, with total crypto market capitalization falling by approximately 11.4% month-on-month. Although there has been some relief in the last few days with a rebound in the market, we are still approximately 14.0% down from the peak in March.
We have witnessed a perfect storm of sorts, with several organizations reportedly divesting their Bitcoin, adding to selling pressure and negative sentiment.
“This selling pressure was triggered by US and German government sales and Mt.Gox refunds.”
