Bitcoin and Several Other Major Altcoins were Range-BoundAugust 2, 2019
An extended recovery is in place for the cryptocurrency market. During the early Asian hours today, it was seen that Bitcoin and several other significant Altcoins were range-bound. While it was a mixed picture on Friday during the Asian trading hours, the majority of the 20-altcoins were in the green zone showing gains which ranged anywhere from 1% through 8%
The overall market share of Bitcoin increased to 65.8%. Today, Bitcoin managed to gather an upside momentum. The price of the asset touched $10, 451, and it retreated to $10,400. It was a 4% gain on a day-on-day basis. This remained unchanged through the day.
Ethereum has increased in its price trend by 1.28%, and the price has been hovering in the $216 range. The intraday high for the coin was registered at $13.5 billion. Ripple stayed in the $0.3100 through $0.3200 range, and since early Friday the trend remained unchanged. The market capitalization of Ripple is at $13.5 billion. Litecoin has been ranging at $99.00, and it retreated to the price range at $97.2. The current market capitalization of LTC is at $6.1 billion.
Since cryptocurrencies are investments, which can surge one minute and dive low down the next minute, this is not something advisable for all kinds of investors. Cryptocurrencies are prone to react or even overreact due to fears of fraud and over-regulation among several other things. Giants keep bouncing back, and investors are wondering about what is the cryptocurrency that provides with the best value.
Reassuring price patterns are not seen in the trend charts all the time. While every individual coin is comparatively expensive, when considering how these tokens are adjusted for price and future performance, Bitcoin or Litecoin will prove to be the cheapest of all the crypto.
Investors should cut through the current noise to pick the winners of tomorrow. The winning tokens are those who have something unique to offer in a typical crowded market.
Mati Greenspan recently tweeted: “The SEC is seeking quotes from contractors to run Bitcoin and Ethereum nodes on its behalf — Great, I welcome it — These are public blockchains that can be queried by any basic blockchain explorer.” This is considered to be a piece of bullish news for the cryptocurrency market.
Nic Carter reacted to the SEC advert stating, “You’d never see the day because it’s not happening — They are looking to outsource node-running.” The SEC is outsourcing everything, and it is just ingesting the data.