Cryptocurrency Market: Is There a Price Drop around the Corner?

The cryptocurrency price rally may soon hit a temporary hurdle, leading to a slight fall, before picking up the pace again. The forecast was made by Fred Wilson, a cryptocurrency investor, and partner at Union Square Ventures. Wilson’s prediction closely follows a general price drop pattern exhibited by most of the cryptocurrencies in the past 24 hours.
BTC, : -4%, ETH, Ripple:-7%, Stratis: -20%, and so on… The crypto market is bleeding once again, as the Etheterum and small cap coins are still leading the way lower, and traders and investors are wondering if this is the start of another huge decline or it’s the final phase of the correction that started one month earlier.
The total value of the crypro-market fell to $88 billion as of today, after reaching $115 billion a month ago. Only Litecoin and Dash are near their highs after breaking-out last week, and that divergence is one of the key components of the current set-up. But what do the charts say, is this the end of a major cycle, and lower prices are here to stay or will we see another rally soon? Let’s look at the most important charts to get closer to the answer.