The capitalization of the cryptocurrency market fell below $ 250 billion

[Nikola282828]

The capitalization of the cryptocurrency market fell below $ 250 billion, bitcoin was fixed at $6600
The cryptocurrency market, including both major and alternative cryptocurrencies, has fallen in the last 48 hours below the $250 billion psychological threshold. Bitcoin is still trading below $ 7,000, but all attempts by bears to push the price below $6,500 remain unsuccessful.

Although the percentage range and relative strength index (RSI) show oversold, the market showed no intention of taking the $7,500 mark, which traders consider the main frontier for bitcoin since late March.

The fall in the price of bitcoin coincided with negative news, which includes the pressure exerted by the Reserve Bank of India (RBI) on the country's cryptocurrency exchanges.

Analyst with wall street Tom Lee links the movement of bitcoin with the beginning of the new tax season in the United States. He said that local crypto-currency investors should up to $ 25 billion to the us tax Service (IRS) as income tax payment. Lee reported that cryptocurrency-to-dollar exchange rates may recover after the end of the tax season.

"The tax season will end on April 15. Investors who benefited from the bitcoin price in December need to find money to pay taxes now, which could explain the percentage pressure on bitcoin sale prices in March," he said.

The end of the tax season along with the growing public demand for cryptocurrencies, as noted by Augur operations Director Jeremy Gardner, can lead to a General recovery from this bearish cycle, with which the cryptocurrency market has been struggling since early January.

The current correction is considered to be the third largest correction in the history of the bitcoin market with a 72% decrease from the record high. Since mid-March, the rate of decline has slowed more and more, and the minimum of 6 February at $5920 has not yet been overcome again. It gives me hope for the medium-term correction up or a fast turn of the market.

Source bitfeed.ru

[Wxrhino]

Good news, already back up to 270 billion!

[pranazzs]

useful info.
But, Altcoin price is now still high, will altcoin be down soon?
and bitcoin will be correction soon?

[fadlyzuld]

ETH have come back to same price at last year, i don't think it still high compare to Bitcoin, i think ETH will be up trend now, but need long to come back ATH

[vasiliy-ifst]

useful info.
But, Altcoin price is now still high, will altcoin be down soon?
and bitcoin will be correction soon?

I think that the correction will take place, and the market will go even higher today. The only thing that bothers me is I don't know which altcoins to leave now.