Cryptocurrencies evaporate $122.8bn in market value

The cryptocurrency market has experienced significant volatility recently, with $122.8 billion evaporating in market value. Several analysts have analysed the current market conditions and generally agree that the market is in a bull market, but a correction is likely in the short term. According to some analysts, Bitcoin's on-chain data shows that $7 billion flows into the market every week, suggesting that the bull market is not yet over, but a bubble has not yet emerged. They expect that even if there is a correction, the drop will be no more than 30 per cent and that the price could rise by more than 30 per cent after the correction. Some analysts, on the other hand, believe that the market may see a deep retracement, and pointed out that bitcoin prices failed to test the 100,000 mark, opened a retracement to break the ABC, and is now testing the 97400 - 97600 line again, the trading day, for the repair of the long side, focusing on the key price range below the support can be effective. In addition, some analysts are also concerned about the trend of the Ether, and pointed out that the Ether market performance on Wednesday due to Christmas fluctuations is relatively light, the highest price of 3547 minimum price of 3439 closed at the opening price of 3491 daily close a small cross pattern; blocked below 3550 with our Monday as of this week as of the goal of the trend of Thursday basically to maintain the same; indicators of the 10ema - 15ema suppression is effective! Resistance is valid; resistance effective sky chart since 3100 rebound has appeared second test 3550 resistance suppression; is expected to continue to retrace the opportunity to increase today. In short, the cryptocurrency market is currently in a state of volatility, investors need to operate with caution and pay close attention to market dynamics.