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Cryptocurrencies experience a drop in value this week

The current week has not been bringing great results in the cryptocurrency niche. Most of the digital currency assets have experienced a decline of about 3 % to 15% in value. At the moment the value of Bitcoin Cash is about $1446 and the value of Bitcoin Core is about $8473.

Now, this has created an element of uncertainty among the digital currency traders and they are sceptical about adopting the future line of action. However, some of the digital currency investors are thinking on a positive note as well and they believe that the value of digital currency will soon rise in the coming week but at this point of time nothing can be said for sure.

If we look at the past trends, then one thing is quite evident and that is the value of digital currency tends to increase in Mid of May every year. This is why we can have positive hopes this year as well that the month of May will uplift the value of the digital currency.

The investors need to be quite careful in digital currency investment at this point of time and they should allow the market to become more stable. This way they can avoid losses and play safe. If we look at the technical indicators relating to digital currencies, then they are showing a bit of consolidation.

The technical indicators will play a positive role to ascertain the exact situation of the market at this point of time.

Ideally, the traders should wait till the next week for the value of digital currencies to improve. The best approach at this point of time is to wait and watch because it is not advisable to depend a lot on a vulnerable market.

At the moment most of the top exchanges are still trading the BTC pairs and things seem to be improving gradually. The truth is that the digital currency market is volatile so the trader has to understand the psyche of the market to excel. You cannot afford to make rushed moves in the digital currency market because that can end you in greater losses.

The best approach to adopt in the digital currency world is to go with the stride. This way you can look forward to consistent profits and you will not have to be disappointed with the end results. For now let us hope that the next week turns out to be more profitable for the digital currency investors.

2018-05-16T17:32:24+00:00