As I can see, the red color of the downtrend is dominating Coinmarketcap. Are we experiencing an uptrend and preparing to see a bear-rest when holders decide to sell to take profits? Or is this simply a necessary adjustment before the community takes the market to new highs with total capitalization over $400B?
Don't worry buddy,corrections price in the crypto market continue as traders and investors want to sell some of the coins they own to make a profit, from the data that I see on Coinmarketcap right now, the market cap of crypto is decreasing, but the price of BTC still have a good price on the crypto market.
Market Cap: $364,684,835,067 - 24h
Vol: $76,573,312,099
BTC Dominance: 59.2%
Cryptocurrencies: 6,537 Markets: 26,974
The information above shows that the crypto market capitalization is still good even though it has decreased from $400B to $364B, this has happened along with the pandemic outbreak that has not been finished, so that it makes investors withdraw a little of their funds and divert them to various other types of investment.
I am quite concerned about the crypto market, especially after the absurd growth of DeFi tokens in the past short time.
I think DeFi tokens are currently having a small trading volume, we have seen unreasonable price increases and this situation will make crypto investors more cautious with very high price increases with very fast time duration and eventually the token price will go down
