Bit-comment: The crypto stagnation
April 01, 2020 @ 13:09 +03:00
Over the past 24 hours, Bitcoin has shown attempts to reach $6,500, but the bears have pushed the coin back to $6,300. In a day, the first coin is falling by almost 2%. Altcoins still do not show any independence. The first April “crypto-star” became Toilet Paper Token, which grew 10 times per day. Taking into account the realities of the crypto market, such a joke may well become an independent project with real market capitalization, as Dogecoin once did.
The crypto market is currently experiencing some stagnation, but many large investors have already entered the market after a recent sale. Coinbase published data which showed that after the record collapse of the crypto market on March 12, there was a jump in purchases of major cryptocurrencies. Bitcoin showed a 6-fold increase in trading activity with 69% buy-ratio, while Ethereum showed a 5-fold increase in trading activity with 67% buy-ratio. Other altcoins showed growth of trading activity in 7 times. Similar processes were likely to take place at other crypto exchanges, and now all these purchased assets will wait for market growth.
The FxPro Analyst Team