Crypto Market Bounce Back! Bitcoin and Altcoins See Reversal, How Long Will The Bulls Rule? – Coinpedia – Fintech & Cryptocurreny News Media
The cryptocurrency market is seeing a significant recovery following a dismal performance yesterday.
How Are The Altcoins Performing?
The cryptocurrency prices were fluctuating to a great extent.
What Is Driving The Crypto Rebound?
The hawkish Fed was priced in by investors, which caused a decline in asset prices. Nevertheless, it seems that investors along with the general markets have stabilized at the moment. S&P 500 rose by 1.8% while NASDAQ 100 rose by 2.1%.
The value of the crypto market soared throughout the epidemic, making it more closely correlated with traditional markets than ever. An asset’s correlation to the overall market is gauged by its beta value. The beta of cryptocurrencies is 2. In other words, crypto assets move twice as much if the overall market grows or declines by 1%.
How long will the bulls reign?
Numerous factors will determine how long this cryptocurrency boom lasts.
