Are Bitcoin And Ethereum Rebounding?

After a few horrible days for Bitcoin and Ethereum and the market in general, both of them have risen by more than 6 percent.
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Somehow, experts aren’t really convinced that the market is back on its feet yet.

This fast recovery did, however, retrieve the positive sentiment of the market. Ethereum had it rough when it plunged more than 20 percent just a few days ago, but it showed some increasing movements going from $250 to $280. Other coins such as Ripple, Litecoin, and NEO also increased in value with over 5-10 percent gains in a short period. Investors, on the other hand, expected a stronger corrective rally. Investors predicted and hoped for a stronger bounce back since the large drop in just 72 hours.

A respected cryptocurrency investor, Willy Woo, predicted that the price of Bitcoin will likely drop below the $6.000 mark this summer, and he also predicted that the market will likely experience a new drop before the next mid-term rally. He predicted that eventually Bitcoin will reach above the $6.000 mark again in the future and the entire market will achieve a convincing rebound. Based on analysis such as this one, there is a likely scenario that the rest of the crypto market will go through another major drop but it will demonstrate stability. The increasing demand for Bitcoin as the most powerful and most dominant cryptocurrency on the market proves there is a lack of confidence from investors that want high-return investments.

It is very possible, however, that Bitcoin and Ethereum will continue their corrective rally and will make a strong comeback before the next plunge.