We noticed a huge increase of the market capitalization of the cryptocurrencies market in the last days, moving from the 188 Billion$ of the beginning of November to the 318 Billion$ of 2 days ago.
After the spike of the Bitcoin value to 11k$, we were expecting a huge price correction with a large amount of small-medium investors taking profits on positions opened few months ago.
Actually we noticed a good sell-off yesterday evening, with a price correction of -13% reaching the 9,500$ value and we suspected that this was simply the beginning of the price correction.
The following price stabilization is showing how much small-medium investors don't actually know what to do, with people who bought BTC at its highest prices, now scared of losing or not getting profits in the short term.
This is may be not the final price correction on this range of price and different scenarios are possible at this stage:
- Huge sell-off and hard price correction until the previous spike at around 8,200$.
- Price stabilization on 9,000-9,500$ and following rally to the 15k$ in the upcoming weeks until the end of December.
The next hours will tell us more about this price correction and we will see during the next 48 hours how the market will have responded to this incredible rally of the last few days.