Cyclical buying occurs in the virtual currency market… Bitcoin may remain flat until the New Year

Bitcoin, which had been rallying, has suddenly fallen, but instead Ethereum, the second largest by market capitalization, has risen, and cyclical buying has occurred in the virtual currency market, which may cause Bitcoin to remain flat until the end of the year.
CoinDesk, a media outlet specializing in crypto assets (virtual currencies), reported on the 25th (local time) that cyclical buying is on the rise. Cyclical buying also often occurs in the stock market. For example, the US stock market's rally
This refers to the phenomenon where investors switch to small and mid-cap stocks when they judge that technology stocks that have led the market have risen too much. This phenomenon is also occurring in the virtual currency market.
As of 4:35 pm on the 26th, Bitcoin was trading at 1.18% on CoinMarketCap, a global coin market relay site.
The coin is trading at $93,950, down 4.17% from 24 hours ago, while Ethereum is trading at $3,410, up 0.84%.
The cryptocurrency market also proved to be experiencing cyclical buying, as investors bought smaller, more expensive cryptocurrencies over the weekend after Bitcoin surged almost vertically following Trump's election victory.
This proves that people are starting to move their money into lower-risk cryptocurrencies. Paul Howard, senior director at cryptocurrency firm Wincent, said in an interview with CoinDesk:
"As Bitcoin's $100,000 level acts as a strong resistance level, cyclical buying has occurred," he said, predicting that "Bitcoin is likely to remain flat and maintain its current level into the new year."
He added, "In place of Bitcoin, which has risen sharply up until now, there has been an influx of buying into Ethereum, which has also risen sharply. This is a typical cyclical buying and is rational investment behavior."
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