The current market condition points towards a recovery of Cryptocurrencies

Cryptos Recovery

March means the end of the financial year in many countries; it means the end of tax season in some.  It also marks the end of the first quarter of the year, it is in this quarter that we saw the fall of Bitcoin by over 50% and the traders and the investors would have breathed a sigh of relief believing the worst is behind them. We speculate that the bulls would be on a lookout to seize the BTC market, by recapturing the $7400 region; this would be required of them if they want to take over the BTC market.  This is one of the most fundamental regions for the support of prices and once the bulls mange to break back in this market, it would forge in confidence into the other traders and investors to start purchasing BTC, which the bulls hope would have a cascading effect that will bring in more demand and more buyers. In an event of this not happening, the bulls face a threat of being wiped out in the short term, they would need to accomplish this task in the next 24 to 48 hours or else they would face the danger of selling out due to lack of confidence in the markets.

Stocks in gradual recovery

The stocks in European and American markets were closed for Easter Monday; however stocks in the Asian markets are on their way up after the long weekend. The stocks have managed to rise a little higher on the back of some decent risk sentiment. The trend is likely to continue day today as many traders are back from their long weekends and the pace returns back to normal.

By Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.