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Not a good day on the Crypto market

Not a good day on the Crypto market

Virtually every mmajor Cryptocurrency has been heading south today.

This is all part of the Crypto investment pattern, it's not for the faint hearted.

Large price movements are common in Crypto and today is nothing unusual. If you are new you might start to panic a bit, but don't worry prices will fluctuate and there is no reason to start shorting.

Stories about Elon Musk don't help and whether we like it or not his opinions affect the market, here is one such story from Coindesk 'Musk Has Doge on a Leash. Is He a Manipulator?'

Also see: Guide to getting into Cryptocurrency?

As for bitcoin, the balance of that cryptocurrency held on major exchanges is increasing again after dropping for more than a year, according to data from Glassnode.

Some analysts interpreted it as a bearish sign for the market. as it could show more BTCs are available to sell on exchanges.

Here is a snapshot of todays market prices.

crypto prices 16 5 21

 

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

What do you think? Comment below or follow us on Facebook or Twitter.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by techbull.co.uk. Readers should do their own research before investing funds.


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