Market price analysis on Jan. 7, 2019 The start of a full-fledged rise of cryptocurrency?

in #bitcoinlast year

As of January 7, 2019, the price is expected to rise to the $4200 range and stabilize at the current level of $4100. It appears that the direction came from the end of the short-term convergence. And the upward trend is likely to be the overall change in the market atmosphere. The market capitalization has also increased by about five billion dollars. The big issues that will take place in January in Crypto currency market are expected by many people. This seems to have affected the increase in the purchase tax. I think it's a sign that big events such as Ethereum's hard fork schedule and the opening of the BAKKT exchange are probably going well. The chart has also gone from a steep oversold to looking on recovery trend. However, if an unexpected emergency occurs at a waiting event, the current recovery may crumble, so we need to keep an eye on the market.

Obviously, the overall atmosphere seems to be changing to a recovery. On January 6, a $30 million transfer of the USDT (Tether) occurred, and this seems to have affected the price increase. As I said before, I think that the issuance or movement of a tether usually gives a strong buy-in perspective in the market. It seems that this upward trend has benefited from this effect. Jerome Powell of FED(The Federal Reserve) chair also made a statement about his preference for monetary easing. Many experts say this has had a positive impact on market investment psychology. January`s market situation is full of positive factors, with many positive factors occurring in the financial market and many pending events. I hope that the positive market will continue throughout the first quarter.

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