Analysts are always seeking new ways to assess cryptocurrencies. Different metrics provide insights that can be used to gauge various trends, such as estimating when a particular asset has bottomed out and is due to rise. The Altcoin Correction Index provides an unvarnished snapshot of this year’s worst performing cryptos. Also read: Blockchain, Reloaded: How the […]
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While the second half of May has been burdened by a sustained downtrend, today’s price movements could be seen as a spark for a reversal. After reaching initials lows earlier in the day of just above US$7,000, Bitcoin saw a huge jump to above $7,400, and is continually inching higher. If things play out well, this could lead to a summer frenzy, similar to was witnessed at this time last year. In the month of April, Bitcoin saw an almost 50% growth- from lows of US$6,600 to local highs above $9,600. While this was a strong indication that the bear