Bitcoin has a short-term technical rebound, and the price increase on the daily line is only 3.52%. Analysts at Bexplus believe that the continuation of the BTC market is worth paying attention to when investors’ short-term participation is extremely low.
On March 16th, the number of active BTC addresses fell back to 1,161,554, a decrease of 4,141 compared to the previous trading day. On March 17th, the number of active addresses continued to withdraw significantly, and the numerical performance was still lower than the recent average. In other words, BTC has not been recognized by more investors in the short term, and the resistance to price increases is greater. Therefore, during the period of chasing up mainstream cryptocurrency trading, pay attention to adjusting expectations.
In terms of mainstream cryptocurrencies, most cryptocurrencies have little room for change. ETH follows the pace of BTC adjustments, and the increase of the closing price is limited, and its breakthrough needs to be linked with BTC to achieve.
The current increase is mainly concentrated in a few cryptocurrencies, such as FIL, ADA, LINK, MANA and other currencies. Therefore, in terms of trading direction, in addition to paying attention to the follow-up trends of these cryptocurrencies, positions need to be controlled when chasing transactions.
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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