Crypto Market Jumps $10 Billion Overnight
The cryptocurrency market experienced a major surge in capital injections over the past 24 hours as investors begin once again anticipating the start of the ever-desired bull run, something that has been predicted since January from those eager to experience the gains they missed out on just a few months prior. The market saw gains maxing around 16% for certain crypto's and in particular, EOS, which has been steadily climbing despite market consolidation ahead of the Mainnet Launch which is now back on target for release despite several setbacks predominantly with bugs found in the code capable of crumbling the entire EOS network.
It comes as no surprise the market has suddenly become flooded with positivity from both investors and the media articles beginning to surface again. However, this must always be taken with a pinch of salt as we have seen these re-reoccurring themes in market bias for several years now and as more hopeful investors flood into the market with hopes of catching the big moves, it's likely irrationality will see a major surge over the next week as Bitcoin is looking to meet the $8,000 region once more after remaining stuck for the past 7 days within the same range boundaries. BTC from a longer-term perspective is still very visible as being in a bear market and is currently surging towards logical retracement levels and prior broken support around $8,000 to $8,400, where a failure to break above (possible with the current lack of momentum), will result in a new leg lower and price breaching even further into the depths of the $6,000's.