Welcome to Cointelegraph Market’s weekly newsletter. This week we will identify emerging-sector trends across the cryptocurrency landscape in order to broaden your understanding of market cycles and better equip readers to take advantage of the microcycles that are a regular occurrence in the larger market structure.
The cryptocurrency sector has an established reputation for being volatile and fast-moving, and these characteristics were on full display in May as the rapid decline in the price of Bitcoin (BTC) from $60,000 to $33,000 led to a mass exodus that wiped off $1.2 trillion in value from the total market capitalization.
While many across the ecosystem have placed the blame for the downturn on things like negative tweets from influencers and powerful figures like Elon Musk or yet another announcement that the government of China has banned Bitcoin, more experienced traders and analysts were warning about the potential for a significant pullback for several weeks prior to the sell-off.
The rapid rise in prices in