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Cryptocurrency: greed turns into fear

 It seems that a state of anticipation dominates cryptocurrency trading during the upcoming sessions, as the feelings of greed that had dominated traders and reached their peak on September 7.


However, with the breaking of the rising wave, coinciding with the activation of El Salvador's decision to adopt Bitcoin as a national currency, the digital currencies entered a violent downward wave, as a result of which they incurred more than 370 billion dollars in losses within two days.

However, the market is consolidating and most of the cryptocurrencies have reached major resistance levels, but caution seems to be the dominant feature of the performance of traders waiting for the stimulus of the liberalization of the markets.

Bitcoin price is consolidating below $48,000 now and is yet to provide signs of continuation, indicating caution for traders as a break higher is not guaranteed.

However, this latest price pullback is "how to start a bigger move down", hinting at a possible rally in the near future.

The digital currency market is trading with a market value of about $2.15 trillion, while the market value was seen at $2.088 trillion yesterday, Saturday, before it rebounded.

Bitcoin is now declining by about 1.2%, but it is consolidating the highest levels of 48 thousand dollars, while it rises within a week by 6.5% and a market value of 905 billion dollars.

While Ethereum ETH/USD drops 2% at levels of $3.44 thousand, while it rises within a week by 4%, with a market value of $402 billion.

Cardano is down by 1.2% at levels of $2.37, while it is declining by 6.4% within a week, and its market value is $76 billion.

Binance Coin BNB/USD is down 2% but still holding above $410 levels while rising 1.5% in a week, with a market capitalization of $69 billion.

Ripple is down 1.1%, while the dollar's highest levels are still at $1.08, rising marginally within a week by less than 1%.

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