The lull in the cryptocurrency market: Bitcoin and main altcoins are stuck in narrow ranges

The cryptocurrency market today shows a lull, a lot of coins are in narrow ranges. The total value of all digital assets remains unchanged from yesterday and is about $ 121 billion.

Bitcoin (BTC) continues to fluctuate around $ 3,600, as market participants cannot decide on the next step. The BTC / USD pair recovered from the Asian low of $ 3,572, but at this stage the growth potential is limited.

Ethereum (ETH) did well, despite the postponement of the long-awaited update of Ethereum Constantinople Hard Fork. The ETH / USD pair is trading at $ 122, showing a 0.21% increase in the last 24 hours.

Ripple (XRP) is in sleep mode at $ 0.32. Although the short-term bull trend may gain momentum.

Over the past 12 months there has been a significant collapse in the market, which has erased almost 90% of its value. This collapse, called “Crypto Winter”, led to huge losses for many investors, and also raised questions about the future of the market. However, lower prices did not prevent IT companies from building blockchain infrastructure or investors looking for undervalued projects.

Konstantin Richter, Blockdaemon CEO, at a panel discussion organized by Bloomberg News in Los Angeles, said the following:  

This is the most productive phase in which we have ever been. Projects should now show their colors. It is time to collect a lot of money and a lot of things to discuss.