Market Snapshot – Crypto Bull Run Gains Momentum

Cryptos Continue Rise

The crypto market rally continues and along with it are fears and uncertainty on how long the bull run is going to last and when the large traders and the investors would be inclined to take profits. It is at that point of time that we can expect a major correction in the prices but even then, it would only be a correction and a chance for the bulls to load on their longs once again and for the traders to sell higher and buy it back lower rather than any chance in the medium term uptrend that we are seeing in the markets right now. The prices of bitcoin cash has doubled during the uptrend and we also expect the uptrend to carry the BTC prices towards the $10,000 region and beyond as well. We believe that the uptrend would continue in the medium term but we also believe that there would be periods of slowness, correction and consolidation as the prices do not move in a straight line at any point of time.

Stocks Likely to be Choppy

The stock markets have been trading in a steady manner while the yields also continue to rise. This is proving to be a bit of a drag on the markets for now but this should not last long is what is generally believed. It is also a period of general slowness in the market as the economic data and news begins to dry up all over the globe as we head towards the end of the month. The traders have to be careful that they do not get carried away by the small move either way in the market over the next few days as the markets are likely to be choppy due to the month end flows  and this could push the markets this way and that.