Cryptos rallied sharply on Monday, as many investors believe this is the end of the bear market. Bitcoin recovered from a 15-month low, jumping from around USD 3,200 to USD 3,583. Ethereum surged 15% to $96, while EOS rose almost 30% in less than 24 hours to hit $2.54. Volumes increased across the board. After months of hunting bear, investors are chasing the bull. But is the turnaround sustainable? Investors should remain cautious: this could be a short-term reaction, another sell-off cannot be ruled out. Given the sharp appreciation of the last 24 hours, short-term weakness appears certain.

 


 

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This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

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