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Good Trend, but Slow Motion: The Market Is Waiting for BTC Climax

Nov 4, 2019

Last week, the crypto market talked about the alt season beginning. Traders switched to altcoin trading, because the main coin was in the accumulation/flat stage. Note, this didn’t affect capitalization, since the averaged capitalization  level is $240 – $250 billion.

The market wasn’t supported from outside, but used only the inside market resource. This situation may lead to another altcoins fall in the event of a sharp BTC movement, regardless of the movement’s side.

Currently, the crypto market is looking for ways to attract additional resources. Justin Sun announces a partnership with Samsung, which will add TRX support to its hardware wallets, provoking a strong price boost. As we note earlier, it wasn’t advisable to buy an asset at that moment. You should expect a price rollback to the 0.01850 USDT support level. At the moment, the coin is trading above this level and you can try to gain positions on this coin. We are waiting for additional, positive news about the second project – BTT.

We can’t ignore the news from Baktt and its achievements in attracting volumes to its platform. Over the past week, their volumes have grown significantly and showed ATH at $10.3 million. This situation sets up a positive perspective.In general, the current week should pass in the Bitcoin climax anticipation, as the price began to tighten very much, which indicates an imminent exit from the flat. On Friday, Binance CEO predicted a $16,000 course in the near future. Perhaps, this time will come this week.

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