Even though the cryptocurrency market has been actively growing over the past week and the total capitalization has already reached $1.7 trillion, it seems that the market has stalled. This is because the main digital assets hold their current positions close to the record, but do not continue to actively grow.
First of all, there were concerns about the performance of Bitcoin and Ethereum. For the third day, BTC has been treading water at the level of $56,000 and has been holding it with minor drawdowns. ETH is still hovering around $1,800 and periodically drops to around $1,760. It was the stupor of the main cryptocurrency and the main altcoin that cast doubt on the optimistic forecasts regarding the growth of digital assets.
The current indicators of cryptocurrencies indicate that the market is not yet ready for rapid growth and new records. Coins need more time to gain a foothold on the psychological threshold ($55,000 for bitcoin, and $1,800 for ethereum). Despite certain problems with conquering new heights, the market is quite saturated with positive news and announcements that contribute to further growth.
Major financial companies like Goldman Sachs are reporting growing demand for bitcoin, and crypto exchanges are reporting a shortage of digital coins. Also, the Ethereum network update will start very soon, which will have a positive impact on the asset's growth dynamics. The Ripple token has secured the backing of a large company, SBI Group, which continues to back the coin. Now the company's shareholders will be able to receive dividends in XRP cryptocurrency.
If we discard the current indicators of cryptocurrencies and focus on studying the picture more globally, then it becomes obvious that there are plenty of prerequisites for the further growth of coins. Sagging without significant fluctuations is normal and not a harbinger of a market decline. Crypto assets will take a little longer than it seemed at first, but historical records will not last long.
