Cryptocurrencies as an asset class are maturing and carving out their own niche. While the equity markets had their worst week in the past 10 years, the crypto markets have bounced sharply from their lows, showing first signs of a recovery.

However, after the massive destruction of wealth this whole year, it will take more than a bounce to confirm the start of a new uptrend. Though these bounces are a good opportunity for short-term traders, the investors need to look for large bottoming formations which signal the beginning of an uptrend.

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