Crypto Investors Feel Little Optimism Amid 22% Bitcoin Decline

The total market capitalization for cryptocurrency has climbed above $3 trillion.

However, this rebound “reflects exhaustion” and not a reinvigorated conviction in the crypto space, CoinDesk reported Tuesday (Dec. 23). Bitcoin is down more than 22% in the fourth quarter, which makes this one of the weakest closing quarters for the crypto market outside of major downturns.

The market’s recent strength is mostly technical and fueled by a low base following weeks of selling, FxPro Chief Market Analyst Alex Kuptsikevich said, according to the report.

“The crypto market is making a new attempt at growth, but this is not yet a recovery,” Kuptsikevich said, per the report, adding that there has only been a moderate improvement in…

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