Market Indicators Suggest That This Is The Best Time To Buy Cryptocurrencies

Crypto markets have become one of the important tools of investments in recent times. However, the bearish trends of 2018 complete turned the market upside down. Most crypto assets lost 90% of their price value till December last year after reaching their peak in December of 2017.

Nonetheless, current market trends indicate that the bears have gone, as the market has seen steady positive growth since February. Bitcoin, the apex token, is growing strong and has more than doubled within a period of three, months, which is highly encouraging. Therefore, the current market conditions suggest that it is the perfect time to invest in the market.

Many market experts have predicted that Bitcoin could cross the $20,000 mark by the end of 2019, while some have even made some unrealistic predictions of BTC crossing $100,000 mark. What, more or less, seems assured, is a steady growth which could prove to be extremely profitable. Since Bitcoin trends have proved to be catalysts for the entire market trends, it is safe to say that other cryptocurrencies will also see positive growth.

Formal indicator of market trend, the relative-strength-momentum has also shown an upward trend from the neutral baseline. Fundstrat Global Advisors, the market analysis firm, has stated that the current trend indicators suggest a buying decision for investors, as the market is poised for greater growth in the foreseeable future. Technical strategist at Fundstrat Rob Sluymer has written a note declaring a positive market trend. He stated he is currently recommending buyers to invest in the markets, despite asking them to hold back in May.

He further added,

Another upside attempt appears to be developing for most cryptocurrencies. Increase exposure. We expect Bitcoin to stage another rally from current levels toward next resistance between $8,800-$9,000.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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