LIVEThe cryptocurrency market is currently experiencing a downturn, characterized by overselling and declining prices across Bitcoin ($BTC ) and alternative #cryptocurrencies (#altcoins ). This period, often referred to as a "bloodbath," sees constant low levels in Relative Strength Index (RSI), indicating widespread overselling. The market faces challenges with a large influx of new coins, which dilutes investment and makes significant price increases, or "pumps," less frequent. Bitcoin's dominance remains strong despite its decline, and the anticipated effects of its recent halving event have already been factored into market expectations since January. While a market recovery and potential price surge are possible, analysts suggest it may take between 7 to 14 months for substantial growth to materialize.
