Crypto Winter is Over but the Spring Promises to be ColdBitcoin decreased by almost 2% in the last 24 hours and is trading at around $5100. The benchmark cryptocurrency attempted to break through $5200, but again faced sales pressure, and as the price dropped, trading volumes grew.
OpenMarketCap – alternative cryptocurrency rating list, which shows data without wash trading (investors sell and buy the same financial instruments to create trading activity), indicates that real trading volumes of all cryptocurrencies are lower by more than 10 times. The same daily trading volume of XRP, as calculated by OMC, is 93% lower than CMC demonstrates. If such volume expansion concerns the third largest cryptocurrency, then what about the rest?
The bad news came for investors in Ripple, since one of the largest Japanese banks, Resona, decided to abandon the xCurrent payment service. It was one of 3 banks working on an app with SBI Holdings and Ripple over Money Tap. This news had no particular effect on the XRP dynamics.
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While various companies are struggling to obtain licenses, there is a high probability that the last players with “unbalanced mentality” will come out from the crypto market. The crypto-winter really ended, however, as always during spring, the air temperature can sink below zero for a short time, and Bitcoin still can decline to $4,200 or lower if some negative background appears during the correction. For long-term investors, this won’t be a problem, while others will hurry to the exit, which finally will open the way to BTC growth in the future.
This article was written by FxPro