Despite surpassing $ 5,500 in recent gains, bitcoin is not the market leader. Altcoin turned down, Bitcoin kept green. Although the price...
Despite surpassing $ 5,500 in recent gains, bitcoin is not the market leader.
Altcoin turned down, Bitcoin kept green.
Although the price of bitcoin 24 hours has decreased slightly but still maintains the momentum, while the price of altcoin has turned down.
The price of bitcoin has been changed over the past 24 hours
The price of bitcoin today (April 24) recorded at 8.45 am at US $ 5,567, up 3.02% from the previous 24 hours.
In the market, there are only 19/100 coins appreciating from the previous 24 hours. In particular, the highest increase belongs to REPO, higher than 74.63% in the day.
Overview of electronic money market.
In the top 10, there are all 3 currencies that rise against the previous 24 hours.
Top 10 electronic currencies by capitalizationEthereum decreased slightly by 1.4% to USD 168.39. The ripple decreased by 1.4%, recording a price of $ 0.3186.
Bitcoin cash decreased 2.4% to 284.46 USD. Eos or litecoin all fell during the day, 2.3% and 5.2% lower than the previous 24 hours.
Binance coin and Cardano fell the most in the top 10 compared to the previous 24 hours, respectively 7.1% and 7.5%.
However Binance Coin compared to the last 7 days, this currency still has an increase of 13%.
The total amount of pre-digital market capitalization was recorded at 8h45 at $ 180.59 billion, almost no significant change compared to the previous 24 hours.
Market capitalization of electronic moneyMeanwhile, the trading volume of the whole market increased slightly, recorded at 51.07 billion USD, 6 billion USD higher than April 23.
In addition to market price news, there are some notable news this morning, please check with Hightechbrain later.
Binance Coin is the leading currency in the market since the beginning of the year.
After dropping from a peak of 20,000 USD last year, bitcoin gradually recovered and recently surpassed the psychological threshold of 5,000 USD, an additional 45% this year. Some other currencies increased more, including the binance coin, back to their highest level since the end of 2017.
According to Weiss Ratings, organizing a bitcoin and digital money assessment, Binance coin may be the next bitcoin as it leads the market trend in recent weeks.
This currency increased more than 300% this year, the most among the top 10 currencies according to market value. Recently, binance's own blockchain, the Binance Chain was launched, bringing this currency back to the previous high level of 24 USD.
Weiss Ratings raised the ratings for binance coin
Last month, Weiss Ratings rated binance coin at B-, the same level as bitcoin, ripple and eos, rival of Ethereum.
Weiss Ratings comment on binance coin (source: Twitter)However, many authors warn that "binance rankings are now due to a recent price increase, which may not be sustainable."
Meanwhile, the leader in this credit ranking is eos, when there is a perfect combination of wide acceptance in the market and technology.
The power of binance coin.
Binance DEX decentralized trading platform, allowing users to control their private key, also helps binance coin to maintain its position when it is built on the blockchain itself of Binance, Binance Chain.
And most notably, Binance canceled the listing of bitcoin students last week, causing the currency to decline dramatically. Developers and supporters of Bitcoin SV reacted to this decision by Binance and CEO Changpeng Zhao.
"The decision to cancel listing bitcoin SV seems to be based on not liking scientists working on this platform," said Ayre, founder of CoinGeek, which specializes in digital currency mining. He told the Financial Times: "In general, this is market control.".
“Craig does not own bitcoin SV, or anyone, so this is very unprofessional. A trading floor should only need trading volume, should not choose "horse" that wants to win and the result is scary and controlled. ".
Trust in Bitcoin's reversal
Many people still believe in bitcoin's reversal, most recently the rating agency Weiss, says bitcoin is now one of the "best buying opportunities" of the year at current prices.
BitPay CEO Stephen Pair said speculators are leading the current value of bitcoin, while the real application of this market-leading currency is only a fraction of its price. Speaking on CNBC's Squawk Box program, Pair said that BitPay will change this situation significantly in subsequent years.
In his view, $ 1 billion in annual transactions can now rise to an ideal level of $ 10 billion or $ 100 billion annually over the next few years as more and more customers begin to see that everywhere supports. Digital payment. When this happens, he thinks prices may return to the highs of December 2017.
According to Jeremy Allaire, CEO of Circle, a peer-to-peer payment technology company supported by Goldman Sachs, the price of bitcoin will fly high in the next 3 years. "I do not make significant price estimates," Allaire told CNBC. “But it will definitely be worth a lot more than today's value. I am a buyer on the market ”.
"The key is special bitcoin in its safety and scale," explained Allaire. “The idea is that we need a rare, non-governmental, valuable storage place and everyone can safely hold it. That attracts everyone in the world. ”
Bitcoin will return strongly this year
CEO of Quoine Exchange - Kayamori made a comment on the Bitcoin market this year, he said that "Bitcoin and other electronic currencies will have a stronger return this year" and believe that bitcoin alone it will pass the $ 20,000 mark at the end of 2019.
He hopes that confidence will return to digital money and the momentum will take place this year.
In addition, he added:
"While many people have called $ 4,000 a" technical bottom "for bitcoin, the leading currency has failed to hold its position as it was continuously sold off in the past." That said when you look at the historical patterns and what's going on, I think the bottom is near. ".
Kayamori corroborated his analysis by emphasizing pressure on bitcoin miners, many of whom had to stop operations when the price of bitcoin declined.
He noted: “If enough miners stop mining, then it is near the equilibrium level. When you see even when the market is up or down, you can say it's near the bottom. ”
Bitcoin is more like copper than gold
Speaking on CNBC's "Squawk Box," North Island President Glenn Hutchins said that the first digital currency "could become Betamax." This comment referred to a videotape in the 1970-80s, eventually winning the JHS VHS format, while Sony's Betamax became a past and into the niche market.
"The currency with algorithmic algorithms leading the technology will be in that position," Hutchins said on CNBC. "Other currencies will be used for different applications."
He also suggested that Bitcoin is equivalent to an industrial metal, rather than gold. "I think it's more like copper, an industrial metal is used for the purpose of producing results," Hutchins said. "There will be a currency used as an industrial metal used for networking."
Operational growth can bring bitcoin up to $ 64,000, according to Fundstrat.
"We believe that the current level of encryption strength allows for bitcoin prices of up to $ 36,000 by the end of 2019, in the range of $ 20,000 to $ 64,000," said Sam Doctor, head of data science research at Fundstrat in a report.
Synthesis Source
Translated and compiled by Hightechbrain
