Categories: Crypto Review

Bit-comment: Altcoins moves ahead as Bitcoin stalls

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

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

Share
Published by
The FxPro Analyst Team

Recent Posts

EURAUD Wave Analysis 7 November 2024

- EURAUD under bearish pressure - Likely to fall to support level 1.6125 EURAUD currency…

6 hours ago

GBPUSD Wave Analysis 7 November 2024

- GBPUSD reversed from support level 1.2840 - Likely to rise to resistance level 1.3050…

6 hours ago

Bitcoin’s target is $100K, but could be $70K first

Bitcoin has reached all-time highs, hitting over $76K, with a projected rise to $100K in…

9 hours ago

Dollar roars up after election uncertainty

The dollar index rallied on the US presidential election results, picking its way up after…

10 hours ago

Gold retreat to test major trend support

Gold lost over 3% on Wednesday and now evaluating an important support line at the…

10 hours ago

New Growth Impulse for Stocks

The US stock market experienced a rally after the presidential election results, with several key…

10 hours ago

This website uses cookies