Last Friday, the digital asset market took a promising upward road, reaching a capitalization of $25,506 billion USD and closing that day at $388,44 billion of global capitalization.
The market continued to recover until late Tuesday, when it reached a capitalization of $436,94 billion USD, which meant a huge recovery compared to the previous week.
However, once it reached its highest point, it began to fall late Tuesday and close at only $403,70 billion.
On Wednesday it had two recovery attempts, but at the moment of writing this article the market had suffered a steep downfall, capitalizing a total of $383.59 billion USD.
That’s why there was a column of cryptocurrencies in red numbers:
It is very important for our readers to understand that, in this financial market, this is a completely normal behavior. It’s natural to feel nervous, and that’s why so many people that haven’t understood the market dynamics make the mistake of selling desperately, losing money in the process.
That’s why we advise you to deeply study the digital market, so you can understand its volatility, because behind those huge swings there are great opportunities to profit in the “game” of trading.
As I’ve mentioned in past articles, the digital market is gaining strength in both, the economic and financial sector, as well as with goods and services. And let’s not forget about the political sphere, which is trying closely to understand this growing market.
A good example would be the news that came out on Wednesday on several media outlets, about the reported partnership between NASDAQ and Gemini, a company led by Cameron and Tyler Winlkevoss, and that the stock exchange is open to becoming a cryptocurrency Exchange platform once the market matures.
“Our deployment of Nasdaq's SMARTS Market Surveillance will help ensure that Gemini is a rules-based marketplace for all market participants,” said Tyler Winklevoss on the partnership.
“Certainly Nasdaq would consider becoming a crypto exchange over time,” Nasdaq CEO Adena Friedman told CNBC regarding the report.
This and other news from around the world show that the cryptocurrency market is getting closer to a global formalization with every passing day.
So, dear readers, stop worrying. The market will take a positive turn, and before long Bitcoin will be back again over the $10.000 USD mark and keeping with the projections of the $20.000 threshold within a short time.
In the meantime, there could be slight losses this weekend before the tide turns over the next week. But, remember, this is just a projection since nothing in this market is written in stone.
By Omar Cortés