The digital currency market continued to show short-term recovery signals for two consecutive days. Although volumes are still low, the prices of most major digital currencies such as Betquin, Atherom, Reebel and Citrus Cash are relatively high.
Early in the day, February 13th, the price of the Betcuene exceeded the $ 9,000 mark for the first time since the 10th of the same month. While Betquin could not recover to more than $ 10,000, which many analysts consider to be a psychological threshold, the Petcquin reported a promising weekly performance. At the beginning of the week, on 6 February, the price of the Betquin fell below $ 6,500, dangerously close to the $ 6,000 barrier. Today, the price of the Betcairn has risen well above $ 8,000, showing that it is ready to embark on a short-term rally to breach the $ 9,000 barrier.
Betcquin and digital currencies are ideally positioned to record new gains in the coming days, provided that major currency volumes hold up. Over the past 12 hours, the daily market volume has been relatively low, and the Betiquin will need to break above the $ 9,000 barrier and be prepared to recover to $ 10,000.
On the other hand, there is optimism over the performance of the Betquin and other major currencies in the long run, given the enthusiasm of investors in the traditional financial market. Although Bitquin and digital currencies as a class of new assets have been introduced to the traditional financial market as futures contracts, the majority of institutional investors are still not investors in this asset class.
This week, JPMorgan, one of the world's largest banks with a market value of $ 380 billion, said in a paper on digital currencies that Betquin and other digital currencies would play an important role in diversifying and preserving global equities. The JPMorgan report on the digital currency market has also been deeply involved in the relationship between technical developments and currency prices. He explained that mitigating the risk of investing in digital currencies through diversification of assets is critical. The report said:
Etherium, ripple and bitcoin
The second, third, and fourth largest digital currency in the market followed the price trend of the past week, as most digital currencies tend to follow the price trend of the most dominant currency in times of extreme volatility.
While Ether, the original digital currency of the ethereal network, is trying to rebuild the momentum to regain its former position above the $ 1,000 barrier, like the Pitcairn. However, until volumes recover, it will be difficult for major currencies to secure their psychological footprints in the coming days.
