10x Research: Current signs of weak momentum likely to be short term consolidation

Cryptocurrency market analysis firm 10x Research released a report stating that there are several signs that cryptocurrency market momentum is weakening, according to CoinDesk. Symptoms include decreasing trading volume and profit taking by long-term holders. However, this is likely to be just a short-term consolidation phase before the bull market regains momentum, the report asserts. 10x Research CEO Markus Thielen explained that since a period of upward momentum has passed, traders should pay close attention to which positions are outperforming and under-performing the market. In order to effectively analyze the market, traders should avoid weak segments and focus on core and strong conviction positions, Thielen suggested.