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Monday, 15 July 19:58 (GMT -05:00)



Foreign exchange market

Crypto Market Sentiment Gets Better, FortFS Reports


Given the fact that crypto assets are relatively new, volatile, and promising, international experts have been increasingly interested in everything that's been going on in the international cryptocurrency market over the last few years. FortFS experts decided to dive deeper into the current market situation and evaluate last week's key events, which are also expected to influence the market in the near future.
 
The past trading week is said to have been interesting and positive for the entire cryptocurrency market. Slowly but surely, the crypto market is getting alive once again, with more investors joining in all over the world. On Tuesday, major cryptocurrencies showed moderate growth - up to 5 points. Even tough some of the coins managed to set new local highs, they eventually failed to consolidate at those levels and retraced a bit from those levels. 
 
At the same time, the price chart or the last 4 weeks leads us to make interesting conclusions. At this point, November stays a positive trading month, with Bitcoin and Ethereum clearly trading in the green zone.
 
On the other hand, even though some of the major coins are currently stronger than weeks ago, the overall cryptocurrency market cap has gained a lot over the same reporting period. On the contrary, if to belive the figures taken for the last few weeks, the market cap has shrunk by several billion dollars. Yesterday, it was some 213 billion dollars, with Bitcoin making up for 111 billion dollars. 
 
However, these are not the key points of interest for international experts. At this point they are trying to figure out how to treat the recent rally and the positive sentiment around it. Chances are, the reason is the info background around the crypto market. Over the last few weeks, the international community has been discussing the rumors about Bitcoin getting ready for its pre-Christmas rally.
 
Experts say that technically, we don't have a reason to expect a rally in the market of Bitcoin and Ethereum unless the price overcomes major levels of resistance located at 6700 USD/BTC and 220 USD/ETH respectively. Still, experts say that the current strengthening looks promising.

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