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The market data is provided by the HitBTC exchange.
After a prolonged downward trend, most of the major cryptocurrencies are showing gains on a weekly basis. This shows that the recovery is picking up steam.
However, even after the recent rise, most tokens are still way below their lifetime highs. Cryptocurrencies will have to spend a long time forming large bases, upon which the next bull phase will be built. It is too early to call a bottom.
A bear market is a great time for the investors to pick up the best coins at a bargain. Alexis Ohanian, the co-founder of Reddit, has said that the current bear market has driven away all the speculators, leaving behind only the true crypto believers.
That is a bullish sign because the die-hard crypto enthusiasts buy for the long term and will not panic sell on the next 30 percent fall.
After a new uptrend begins, new traders will start jumping in. The entry of institutional investors and the approval of a crypto exchange-traded fund (ETF) can provide a big boost to the crypto prices. Once an ETF is approved in the United States, other nations might follow suit.EOS/USD
EOS has been on a roll and has emerged as the best performer among the major cryptocurrencies, rising by about 35 percent in the past seven days. The EOS community seems to have been satisfied with the assurance of block.one CEO Brendan Blumer, who has posted in the cryptocurrency’s official Telegram channel that “great things take time.”
In his message, Blumer also said that he does not want to take what he called the short-sighted approach and push half-finished products out. Is this attitude good enough to carry the cryptocurrency higher, or is the rally about...