The virtual currency market has fluctuated sharply throughout the past week, until early this week all of the top coin showed signs of gro...
The
virtual currency market has fluctuated sharply throughout the past
week, until early this week all of the top coin showed signs of growth
again. But is Bitcoin and other coin ready for a strong recovery week?
Bitcoin ready to move?
This morning, on March 12, the virtual currency market recorded a slight recovery after falling below $ 350 billion. In a nutshell, Bitcoin has risen to 8.16% after dropping to $ 8,320, which is currently trading at $ 9,559 and Ethereum also jumped 5.6% after dropping to $ 637, a remarkably low level. At its highest all-time high of $ 1,400, ETH is trading at $ 722.17.
Bitcoin's daily trading volume remained relatively low for several days, at around $ 5 billion. The high trading volume of Tether, a coin supported by the 1: 1 US dollar, can be seen as a sign of market volatility. There is information that many traders on the world's largest exchanges are using Tether to protect the value of the other Altcoin.
At the time of writing, Tether's daily volume remained at $ 2.3 billion, four times higher than Litecoin's and $ 800 million more than Ethereum's.
Crypto Rand, an investor and market analyst for virtual currency, said Bitcoin's "index" signaled a buying opportunity for Bitcoin investors. During the past six years, as sales skyrocketed, Bitcoin continued to recover from major adjustments.
For example, in December 2016, Bitcoin prices fell below $ 800 as volume increased. However, at the beginning of 2017, Bitcoin prices rose to $ 4,000 and eventually hit $ 19,000 in the same year.
If Mt. Gox sells off, causing a sharp drop in the market. Once it stops short-term, the market will not be affected by the millions of dollars worth of Bitcoin that is shedding its virtual currency trading floors.
With declining sales, demand for large coin increases and demand increases coincide with the sale of Mt. Goth, Bitcoin prices will likely grow as in January.
What about the other Altcoins?
During a period of uncertainty, Bitcoin tends to outperform other large coin and smaller tokens.
In the top 10 coin, Bitcoin Cash is the strongest gainer, BCH has risen above 12%, currently at $ 1131.8.
Ripple (XRP), Litecoin (LTC) and NEO are trading at $ 0.829, $ 188.64 and $ 90.81 respectively.
Bitcoin ready to move?
This morning, on March 12, the virtual currency market recorded a slight recovery after falling below $ 350 billion. In a nutshell, Bitcoin has risen to 8.16% after dropping to $ 8,320, which is currently trading at $ 9,559 and Ethereum also jumped 5.6% after dropping to $ 637, a remarkably low level. At its highest all-time high of $ 1,400, ETH is trading at $ 722.17.
Bitcoin's daily trading volume remained relatively low for several days, at around $ 5 billion. The high trading volume of Tether, a coin supported by the 1: 1 US dollar, can be seen as a sign of market volatility. There is information that many traders on the world's largest exchanges are using Tether to protect the value of the other Altcoin.
At the time of writing, Tether's daily volume remained at $ 2.3 billion, four times higher than Litecoin's and $ 800 million more than Ethereum's.
Crypto Rand, an investor and market analyst for virtual currency, said Bitcoin's "index" signaled a buying opportunity for Bitcoin investors. During the past six years, as sales skyrocketed, Bitcoin continued to recover from major adjustments.
For example, in December 2016, Bitcoin prices fell below $ 800 as volume increased. However, at the beginning of 2017, Bitcoin prices rose to $ 4,000 and eventually hit $ 19,000 in the same year.
#Bitcoin "Misery Index" signaling a great buy opportunity here. pic.twitter.com/vwLr88kPSq
- Crypto Rand (@crypto_rand) March 11, 2018
There is also a need to consider the key factors that make Bitcoin and other leading peers become extremely volatile. For example, the sale of a large amount of Bitcoin worth over $ 1.5 billion of Mt. Gox is preventing the market from recovering.#Bitcoin "Index Index" signals a big buying opportunity here.
If Mt. Gox sells off, causing a sharp drop in the market. Once it stops short-term, the market will not be affected by the millions of dollars worth of Bitcoin that is shedding its virtual currency trading floors.
With declining sales, demand for large coin increases and demand increases coincide with the sale of Mt. Goth, Bitcoin prices will likely grow as in January.
What about the other Altcoins?
During a period of uncertainty, Bitcoin tends to outperform other large coin and smaller tokens.
In the top 10 coin, Bitcoin Cash is the strongest gainer, BCH has risen above 12%, currently at $ 1131.8.
Ripple (XRP), Litecoin (LTC) and NEO are trading at $ 0.829, $ 188.64 and $ 90.81 respectively.
Source: Tàng kiếm sơn trang
