Friday Crypto Market Update

Bitcoin and the crypto markets are in a bit of an odd funk at the moment and this is because Bitcoin is in its "pre-halving retrace" phase where Bitcoin's price pulls back before going parabolic post halving.

 If you aren't aware, the crypto bull market fully begins in the months after the halving which will be happening in around a month. 

 So for the next month to maybe six weeks, I expect Bitcoin to experience further retraces in price and overall price volatility and this will be mirrored across the rest of the crypto market. 

 As for the altcoin market, it is generally seeing a retrace as altcoins mirror Bitcoins price moves albeit in a lagged fashion and it will continue to see price volatility over the next month or so. 

 The altcoin market wont start its full on bull run price move until Bitcoin has started its parabolic rise to a new all time high. 

So we probably wont see the altcoin market take off in a big way until May or possibly June. 

Looking at the charts today, the crypto market is a sea of red and even the top gainers over the past 24 hours have been modest.

 Is this a reason to panic? Absolutely not as the price retraces are expected especially after the crazy gains we have seen over the past few months. 

 The next month or so might be one of the last decent buying opportunities(not financial advice!) to pick up crypto coins at reasonable prices before the crypto market goes parabolic in the months ahead. 

 That's your Friday crypto round up!

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