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Will the Rise in Bitcoin (BTC) and Altcoins Continue? Binance Analysts Evaluated!
The post Will the Rise in Bitcoin (BTC) and Altcoins Continue? Binance Analysts Evaluated! appeared on BitcoinEthereumNews.com. Binance Research, the world’s largest cryptocurrency exchange, published a report today analyzing the course of cryptocurrency markets. Analysts at Binance Research, who also examined the reasons for the recent decline in Bitcoin and altcoins, stated that the main reasons for the decline were the German government sales that started in June and the Mt. Gox distributions. “June Was Painful!” Pointing out that the last few months have been difficult for the cryptocurrency market, analysts said that they remain optimistic for the future. “The last few months have undoubtedly been challenging for crypto markets. Despite the rapid rise at the beginning of the year, we seem to be trading in a range for some time now. June was particularly brutal, with total crypto market capitalization falling by approximately 11.4% month-on-month. Although there has been some relief in the last few days with a rebound in the market, we are still approximately 14.0% down from the peak in March. We have witnessed a perfect storm of sorts, with several organizations reportedly divesting their Bitcoin, adding to selling pressure and negative sentiment. “This selling pressure was triggered by US and German government sales and Mt.Gox refunds.” Stating that the “negative impact” on Bitcoin may be limited, Binance Research analysts stated that despite the structural difficulties, they remain optimistic for the rest of the year and there are bullish catalysts. Binance explained that these catalysts are Ethereum ETFs, Bitcoin halving, Trump’s pro-BTC moves, and the positive macroeconomic environment. Spot Ethereum ETF Approval! Stating that it is rumored that Spot ETH ETFs may be opened for trading on July 23, analysts said that new capital inflows will increase the demand for ETH. It was stated that although ETH demand does not increase in the short term, it will have a positive impact on the market…
The post Will the Rise in Bitcoin (BTC) and Altcoins Continue? Binance Analysts Evaluated! appeared on BitcoinEthereumNews.com.
Binance Research, the world’s largest cryptocurrency exchange, published a report today analyzing the course of cryptocurrency markets. Analysts at Binance Research, who also examined the reasons for the recent decline in Bitcoin and altcoins, stated that the main reasons for the decline were the German government sales that started in June and the Mt. Gox distributions. “June Was Painful!” Pointing out that the last few months have been difficult for the cryptocurrency market, analysts said that they remain optimistic for the future. “The last few months have undoubtedly been challenging for crypto markets. Despite the rapid rise at the beginning of the year, we seem to be trading in a range for some time now. June was particularly brutal, with total crypto market capitalization falling by approximately 11.4% month-on-month. Although there has been some relief in the last few days with a rebound in the market, we are still approximately 14.0% down from the peak in March. We have witnessed a perfect storm of sorts, with several organizations reportedly divesting their Bitcoin, adding to selling pressure and negative sentiment. “This selling pressure was triggered by US and German government sales and Mt.Gox refunds.” Stating that the “negative impact” on Bitcoin may be limited, Binance Research analysts stated that despite the structural difficulties, they remain optimistic for the rest of the year and there are bullish catalysts. Binance explained that these catalysts are Ethereum ETFs, Bitcoin halving, Trump’s pro-BTC moves, and the positive macroeconomic environment. Spot Ethereum ETF Approval! Stating that it is rumored that Spot ETH ETFs may be opened for trading on July 23, analysts said that new capital inflows will increase the demand for ETH. It was stated that although ETH demand does not increase in the short term, it will have a positive impact on the market…
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