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Crypto traders have witnessed a turbulent beginning this year. Last month, the cryptocurrency faced a major crash where some of the leading cryptocurrencies lost more than 50% of their price value. However, now following the price momentums it seems that the market is redurging. Traders can use historical data now to maximize their profits while the market flips back to bullish. Hence, many analysts considered that this time the cryptocurrency winter was not very long.
Crypto market gains bullish confidence
After major dips, bullish marketwide reversals tend to look similar in terms of both price movement and other variables that shape market activity. Analysts in the cryptosphere have observed rising trading volumes, spikes of online attention to individual tokens, and the elevated sentiment of social media chatter around the tokens.
Besides, the conditions that underline individual assets’ rallies in a resurging cryptocurrency market often recur as well. The scenario explains that automated data intelligence tools capable of detecting similarities between past and present trading conditions around crypto assets can be efficient in alerting traders.
3 cryptocurrencies that would surge by over 50%
Keep Network (KEEP) had been steadily rising in the first half of the week. According to analysts, observing the combination of historical trading conditions around the token began to look extremely bullish. Notably, the cryptocurrency is largely mirroring the market’s overall favourable trend and going above.
The utility token of Morpheus Network, MNW is another crypto asset that seems to burst this week. According to experts, MNW has sported robust fundamentals since mid-January when the protocol saw a smart contract upgrade and new masternodes integrated into the network. However, the indications of this past week were strong and showed some robust conditions that preceded both phases of MNW’s rally.
Unus Sed Leo (LEO) is a cryptocurrency tied to digital assets exchange platform, Bitfinex. LEO tokens have witnessed a massive upside pressure this week, when the news emerged that the US Department of Justice had recovered some 80% BTC stolen from the platform that was laundered in 2016.
There is a famous saying that history doesn’t repeat itself. The most favourable historical precedent is not a guarantee of future price actions. However, incorporating automated analysis of digital currency’s past performance into trading strategy can hugely enhance one’s portfolio’s performance.
