Bit-comment: Altcoins moves ahead as Bitcoin stalls
November 06, 2019 @ 15:39 UTC
Bitcoin has managed to gain a foothold of around $9,400, and over the past 24 hours, the benchmark cryptocurrency has shown growth of more than a per cent. Well-known analysts in the crypto community сoncerned about recent dynamic of futures on CME.
Sharp decrease to $8,270 and the subsequent quick recover to $9,300 correlate with possible manipulations. Price dynamics as a whole is considered with great care, as in the absence of news triggers on the market, crypto market forces are creating these triggers themselves. The BTC dominance index dropped to 66.7%, and this seen in the positive dynamics of the altcoins.
Ethereum (ETH), Bitcoin Cash (BCH) grew by almost 4% in the last 24 hours, while other top altcoins also showed a moderate increase. The altcoin market has buried for a long time, and the recent lows may have been the impetus for buyers to enter the market. Still, now it is unlikely that anyone will wait for a repeat of the past historical highs, and we will see a much earlier profit-taking.
The FxPro Analyst Team