The recent market sell off may indicate that the process of bottom formation will be volatile.
After a strong start in 2019, the crypto markets have witnessed sharp selling that dragged the prices down by about 10 percent on Jan. 10. This indicates that the process of bottom formation will be volatile.
The traders should aim to book quick profits and trail their stops higher to protect any potential profits. The important event that turned the tide in favor of the bears was the 51 percent attack on the Ethereum Classic network.
The crypto markets had topped on Jan. 7, 2018, reaching a total market capitalization of over $835 billion. From there, most of the top cryptocurrencies reversed direction causing a huge erosion in wealth. Even after one year, we can not confirm that the markets have bottomed out and are now on the way up.
However, in 2019 the prices could by boosted by any positive regulatory…
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