CryptoWatch: Now’s not the time to increase your bitcoin exposure, analyst says

It’s groundhog day for digital currencies with most major coins trading at or near recent levels.

Bitcoin, BTCUSD, -1.23% the world’s largest digital currency with a market cap or more than $100 billion, is trading at $6,598.48, down 0.6% since Monday at 5 p.m. Eastern Time on the Kraken exchange. This after the No. 1 digital currency added 1% Monday.

As volatility continues to plummet, one analyst said investors should stay on the sidelines and wait for confirmation before making their next bet. “Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” said Rob Sluymer, technical strategist at Fundstrat Global Advisors, in a recent research note.

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