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Bitcoin and cryptocurrencies fluctuated during Tuesday's trading

2019-09-10 12:00 pm | Resource: | No Views : 8

Bitcoin and cryptocurrencies fluctuated during Tuesday's trading The top cryptocurrency has spent most of the past 20 hours trading in the narrow range that Ranging from $ 10,200 to $ 10,400. Bitcoin lacked a clear trend bias after failing to take advantage of the bullish breakout on Monday.

However, the long-term price outlook for Bitcoin is always positive because very few industry analysts believe that the currency trend is heading south for the most widespread digital currency. Overall, this year was very bullish for Bitcoin, compared to the nightmare of last year. When looking at charts though it may lead to a long wait for the next market cycle peak.

Bitcoin has risen more than 170 per cent since the beginning of the year, and although this is not a feat, it is not comparable to gains in recent emerging markets. In just three months in late 2017, the king of encryption rose 400 percent to an all-time high.

This time the bullish wave looks much slower, especially given the past 10 weeks of sideways trading with an unclear direction. Market cycles from boom to recession seem to stretch, each taking much longer than before. So the big question remains

 When can we expect the next rally?

Crypto analysts are looking at past rallies in an attempt to determine the length of the coming period and we may have some wait. Josh Rager noted that the rally from the market lows to the top does not occur with sharp movements, so it may take a few years to reach the next top.
 
"Each bitcoin market cycle took much longer than before. The rise of each market from the bottom to the highest price was not a sharp bank. Bitcoin is likely to reach its next peak in a few years, but the good things come to those who are waiting."

Cryptocurrency trades
  • Bitcoin fell 0.38% to trade at $ 110270 levels
  • Ethereum rose 0.39% to trade at $ 181.38.
  • The ripple fell 0.56% to trade at $ 0.2602

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