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Crypto market update: Market has slightly bearish start to the weekend following an impressive Friday

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  • Ethereum and Ripple has had two straight bullish days in a row before Saturday,
  • Stellar (XLM) is the biggest winner among the top 20 coins so far. 

After a bullish Friday where most of the top 20 coins performed pretty admirably, the market has had a bearish start to Saturday. Let’s take a closer look at how the top three did and then reveal the biggest winners and losers of the day, among the top 20 coins.

Top three coins

  • Bitcoin: BTC/USD, unlike the rest of the top three, didn’t have two bullish days in a row. Instead, it only had a bullish Friday wherein its price went up from $10,110 to $10,405 and has so far fallen to $10,360 this Saturday.
  • Ethereum: ETH/USD has gone down from $194.60 to $192.80, so far this Saturday. Before that, Ethereum had two straight bullish days wherein its price $187.35 to $194.60.
  • Ripple: XRP/USD has had a bearish start to the day following two consecutive bullish days. From Thursday to Friday, the price of XRP/USD went up from $0.266 to $0.277. Currently, the price has gone down further to $0.276.

Biggest winners and losers (top 20 coins)

  • Stellar (XLM) was the biggest winner of the day with a 4% increase in price. It is currently trading for $0.069. That’s quite a turn around from yesterday when XLM was the biggest loser among the top 20.
  • Dash (DASH) went up by 3.27% and is priced at $93.90.
  • Tron (TRX) went up by 3.14% and is priced at $0.018.
     

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The Fate of Bitcoin, Altcoins, and Cryptocurrencies in General

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According to Peter Brandthim, Bitcoin is the only cryptocurrency that has real, lasting value, while most of the altcoins are just ‘junk,’ as he calls them.

The future of Bitcoin remains as uncertain as ever, but current speculation about what might happen to the crypto king and altcoins can vary significantly. A recent poll and the opposite opinion of an expert are a perfect example.

It wasn’t too long ago when the fate of cryptocurrencies was uncertain as the entire crypto space was considered to be nothing but a bubble that would burst at any given time. Each time when the crypto space faced a new bearish period, a controversy, or an incident of some kind — skeptics were quick to announce the death of Bitcoin and the entire crypto space. And as we all know, they ended up being wrong every time.

To this day, Bitcoin continues to lead the crypto market and dominate over it, with its performance setting an example for the performance of most other coins, the altcoins. But, many are wondering whether or not this will change in the future, or even if it can change at all. And, since the crypto space depends on the public opinion so much, researchers decided to address the public with this very question.

According to a survey done by bitFlyer Europe, it was discovered that Europeans believe that digital currencies are not going away. Many of the participants expressed a belief that crypto will still be around in ten years. In fact, this was an opinion of 63% of 10,000 questioned individuals in ten different European countries.

While this does seem like a good thing for crypto, the situation is not so bright for Bitcoin, in particular. The topic of Bitcoin actually brought a surprising turnaround, with poll participants showing a lot less confidence in the king coin, with only 55% of respondents thinking that BTC will stick around for another decade.

However, this is likely the result of bad press which the media continues to pump out by continually claiming that Bitcoin is dead, reporting hacks, investment losses, and focusing more on the damage that is being done to BTC than to any other coin. This kind of behavior is only bringing even more damage to it along the way.

A well-known analyst disagrees

On the other hand, there is Peter Brandt — an American trader, writer, publisher of the weekly Factor Service (and more), who turned out to be a significant Bitcoin supporter and believer. In fact, according to him, Bitcoin is the only cryptocurrency that has real, lasting value, while most of the altcoins are just ‘junk,’ as he calls them.

Earlier today, on his Twitter, Brandt argued that altcoins are lead to Bitcoin’s gold while showing charts that clearly indicate numerous altcoins whose performance follows Bitcoin’s lead. However, he may not be ready to dismiss absolutely all of the altcoins just yet.

When another Twitter user pointed out that younger generations might choose some of the altcoins such as Ethereum or Litecoin due to their benefits over BTC, Brandt confirmed that LTC and ETH have a lot more chances of surviving than the rest of the altcoins. The veteran finance expert believes that Bitcoin will remain the best and largest coin, while the majority of modern-day altcoins won’t be around in the next five years.

The future remains uncertain

Interestingly enough, Brandt’s opinion seems to be a total opposite of the bitFlyer’s poll results, which indicate that BTC will be the one to go away, while the crypto itself will survive. Obviously, no one can tell the future of Bitcoin right now and say with any certainty what could happen.

However, it is interesting to see the differences in opinion, with a professional analyst on one side, and the public view on the other. It will undoubtedly be interesting to see how the situation will unfold over the following decade, and whether or not Bitcoin will manage to keep its dominance for another ten years.

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Crypto market turns green as Bitcoin price crosses $10,400, BTC dominance above 70%

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After spending a week in the dumps, the Bitcoin price is finally seeing an upward trend as the market is trying to bounce back and cross the $10,500 resistance levels.

Bitcoin price has been trading below $10,000 from the past few days but yesterday the trend changed. After trading close to $9,700 for most of the day, Bitcoin saw a correction in its price as the currency broke the $10,200 resistance and moved towards the major resistance of $10,500.

Bitcoin showed an impressive correction in the price as it moved upwards and traded at $10,416.18 by the end of the day. Today the trading started at $10,403.78 and an upward trend can be seen in the charts. If this trend continues, we can expect the BTC/USD pair to break the resistances present at major levels and trade at the yearly highs of $14,000.

The popular altcoin Ether(ETH) also showed an upward trend as the price reached $178.58 from yesterday’s $171.49. On the other hand, Ripple’s XRP token has been trading at a steady rate throughout the week, is currently trading at $0.2618, which marks a slight improvement from yesterday’s prices.

XRP has been performing poorly among all the other currencies this year, and most likely the reason behind this poor performance can be the continuous selling of XRP tokens.

Major player among the top-20 altcoins

In the list of top-20 altcoins by market capitalization, Ethereum Classic has seen an increase of 7.19% over time with the market cap of $761,723,682. Binance Coin is right after it with the market gain of 4.93% with its market cap at $3,517,208,447.

Bitcoin Cash and Bitcoin SV have shown gains of over 4% and the trade has reached $295 and $135 respectively. Litecoin has shown the small gains of about 1.84%. Bitcoin still dominates the market with a 70.1% share in the market, as the market capitalization is back over $265 billion.

Disclaimer: Coinnounce’s views are not necessarily reflected in the articles published, and they are the sole representation of the author’s opinions. Article’s information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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Crypto market update: Market sees green at last as bulls make a comeback

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  • The top three coins experienced bullish action over the last 24 hours.
  • Tezos and Ethereum Classic are the two biggest winners over the last 24 hours among the top 20.

After the bears have had full control over the market for the last four days, the crypto market finally saw some bullish action. Let’s take a closer look at how the top three did and then reveal the biggest winners and losers of the day, among the top 20 coins.

Top three coins

  • Bitcoin: BTC/USD, unlike the rest of the top three, managed to have a bullish Friday. So far, Bitcoin has had a bullish start to Saturday and its price has gone up from $9,581 to $9,596.65.
  • Ethereum: ETH/USD has had a bullish start to Saturday and its price has gone up from $168.50 to $169.15.
  • Ripple: XRP/USD has also had a bullish start to Saturday and its price has gone up from $0.255 to $0.257.

Biggest winners and losers (top 20 coins)

  • Tezos (XTZ) has gone up by 6.76% and is priced at $1.07.
  • Ethereum Classic (ETC) has gone up by 5.85% and is priced at $6.33.
  • Litecoin (LTC) has gone up by 2.11% and is priced at $64.37.

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