Hello everyone, welcome back to the weekly cryptocurrency analysis, today I'll share my thoughts on several coin trends.
These types of articles are expected to be updated weekly, usually Sunday.
Let's get started!
View of the entire market
Let me talk about my views on the entire market first.
The war between Ukraine and Russia continues. Since the current market does not see cryptocurrencies as a hedge, there will be less money to be cut in a bear market. This trend can be seen from the trading volume, so the whole will roughly enter the sorting state, and the follow-up trend remains to be seen.
BTC Analysis
BTC rallied sharply on 3/9, but came under intense pressure the next day, falling to $39,422. There was no obvious upward trend in the following days, and the trading volume also dropped significantly compared with the previous period. Therefore, it can be considered that it is currently in a state of consolidation, and it can be expected that the trend will be obvious next week.
HIVE Analysis
HIVE followed the broader market on 3/9 and even reached an intraday high of $1.035. However, a lot of selling pressure led to the final closing at $0.928, and the market entered a state of consolidation, so the next trend will also be affected by the broader market.
The above is for sharing, not investment advice, please be cautious when investing
You can also share your opinion in the comments
Thanks for reading, see you next time.