Former IMF economist Mark Dow, who went short at the peak of last year's BTC run, closed his position yesterday - sending a signal that the market has finally bottomed out. "I've had enough. I'm tired of trying to bring its price down to zero. I don't want to do this anymore," he said in an interview with Bloomberg. While he didn't mention going long or expecting a bull run, he said he sees a fundamental change in people's perception of cryptocurrency.
Over the past three days, the value of the cryptocurrency market has grown by $22 billion, which cannot but please investors. ETH price has again broken through the $100 mark, which is a strong psychological support level. And despite large corrections, many assets have risen in value by more than 20% over the past week.
EOS demonstrated the most consistent growth; over the past 7 days, the price of the asset has increased by 33%, now it is in third place in the ranking of market capitalizations. The profit of Litecoin (LTC) was 23%, and XRP and BCH 21%.
The price of Stellar (XLM) and Bitcoin (BTC) increased by only 4% and 9%, respectively. At the moment, the only digital asset whose price is falling is Bticoin SV, its value has fallen by 3%.
Despite all this, there are still many factors that can change the direction of the market, including “pump and dump” schemes.
Miner and investment banker Nick Pukrin recently wrote an article explaining that investment bankers can actually only harm the market in the long run, and also described methods to minimize the harm.
The article indicated that from January to June of this year, the number of “pump and dump” schemes has increased significantly. This is a sign that the lack of proper regulation gives a free hand to those who want to carry out such fraud.
According to cryptocoinspy.com
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