In today’s crypto news, we have two altcoins which are climbing while the rest of the market is correcting – including Bitcoin and its recent slid that put it even closer to the $4,000 margin. The total market capitalization has also fallen below the $130 billion mark and the total volume remains sluggish.
The only altcoins which shine bright this morning are Binance Coin (BNB) and NEM (XEM), both of which rising by 8% and 4% accordingly. The price of BNB is now at $5.51 while XEM is trading at $0.07.
Bitcoin bulls have failed to keep the most dominant cryptocurrency above the $4,000 margin. Overnight, Bitcoin dropped to a low of $3,840 but quickly recovered to the current price of $4,019.
Meanwhile, EOS is getting hit by a lot of red traction – recording a 10% dive to $2.58 as more centralization issues plague the project. Bitcoin Cash (BCH) is also collapsing, right after the announcement that it was the worst performing crypto in November, losing another 6% today.
Since last Tuesday, the markets have gained 4% but since the same time last month, they have been smashed by a devastating 38%.
Crypto Market Adds $8 Billion But Litecoin Is Struggling To Gain Momentum
Crypto Market Adds $10 Billion, Currently With $134bn. In Circulation
EOS Skyrockets By 30% In 24 Hours: How Far Can This Altcoin Go?
Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
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