The market of Cryptocurrencies entered a dead zone during the holidays of Christmas and New year. Even though the crypto-asset community is available at every beck and call for 24 hours in 365 days, their investors and traders flee out of the operation during the time of big holidays.
As a result, the activity slows down and ends up making fewer volumes. However, there is always a chance of unpredictability of a price hike. Even though seasonal periods are mostly dull. That being said, there is only hope for the market to remain stable before the volume increases after the seasonal holidays are over.
Range Of Bitcoin During The Time Of Holidays!
In the week of Christmas, Bitcoin went to $7,700 in highs while reaching $7,000 in lows. However, attempts of making recovery were not much of help as it was limited. But, the market value has made a raise of 68.9% when compared to other cryptocurrency assets. One of them is Altcoin which is struggling behind Bitcoin by a long margin.
The total amount of distribution of crypto assets worldwide has hit a record of $190 billion as of this week. In comparison with other assets, like Ripple and Ethereum, Bitcoin has remained unchanged. Ethereum lost at 3% while ripple lost at 2%. But Bitcoin has made a stable position so far.
The third halving is said to be happening during the month of May in the upcoming year 2020.
With that being said, the cryptocurrency market has already begun polishing for it. What’s expected is new highs and collapses.
However, people have notions that Bitcoin may end up like Litecoin, facing a loss of up to 70% after the halving. But even with that notion, the other half of optimists are looking forward to the growth of stock flow.