Finally, there is the major event in the present crypto market, which is known as Mount Gox unlock. Some media outlets misinterpreted the $9 billion estimate and social media platforms may not as drastically affect the profit. Taking this development apart and understanding its impact towards the market is the next thing.
Now it is necessary to find out what actually is happening in the current market and its movement in terms of price action.
The market is as expected adjusting to these new bits of information. It, therefore, means that we have witnessed a decline, and the price make-up seems to lack the necessary strength. This is a rather negative outlook that is consistent with other elements of the identified textual tone.
Yet, for everyone who want to hoard up their BTC or some other altcoins, it may be the right time to do it at levels which are lower than now. In fact, remember that we still are in long-term bull market and can go up for another 1 year at least.
Thus, taking a look at the price chart of BTC, there is apparent demand in the current price range. If trading, have now a partial trading position and wait for the prices to slump further in order to add more substantially. This level should be there to support if there is to be a recovery.
