Skrill adds a New Feature Permitting Buying other Altcoins with Bitcoin While Altcoin Market Shows Mixed Trends

Maheen Hernandez By Maheen Hernandez November 28, 2019 0
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Skrill will now permit the buying of all available cryptocurrencies using Bitcoin. Skrill has facilitated buying of all available Altcoins using Bitcoin with a new feature, thus eliminating the need to convert crypto into fiat to make the purchase. A similar feature, according to a press release, will also be added to NETELLER Wallet over the next few months.

Lorenzo Pellegrino, CEO of Skrill, wanted to make it easier for customers to interact with the new asset class.  The company acknowledges that cryptocurrency is an important part of the Skrill business.

Lorenzo Pellegrino stated, “Cryptocurrency is an important part of what we do in digital wallets and using our scale and vast experience of the payments industry, we’re continually enhancing our service to help our customers get the most out of the crypto ecosystem.”

Some analysts opine that the Apocalypse for the Altcoins has not started yet.  Some asset types rise and fall with the Bitcoin, while others pick up their price trends from nowhere, not relating in any way to the Bitcoin.

Several Altcoins have taken a beating, and there are several investors holding Altcoins like TCAT tokens.  Most investors are of the opinion that there is a strong possibility of worse price trends for the Altcoins in the weeks to come.

CryptoDude tweeted:  “I don’t understand why people think that once $BTC starts dumping, it’s going to be alt season.  Alt market cap looks terrible and seems like the worst is yet to come.”

Several of the Altcoins are already down by nearly 99% from their all-time high price ranges. If the price falls deeper, the cryptocurrency can be declared to be a failed experiment.  Sometimes a full-blown sell-off will cause a FOMO leading to an Altseason.

Strong upward move is seen with major altcoins, including “ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM.” Several small-cap Altcoins touched 12%, including “TT, SOLVE, IGNIS, ENG, MATIC, CHZ, NPXS, MAID, ARDR, IOST, and STEEM.”

Some analysts state that the Altcoin has touched a significant support level; however, due to lack of trading patterns, it is not possible to confirm their upward movement.

Previously, most of the Altcoins will follow the Bitcoin pattern; however, over the past couple of months, several Altcoins have posted a double-digit increase.

Considering the 2019 bull market, the Altcoin market cap has retraced its way to the 0.786 Fib level near the $65 billion.  The lower wick immediately moving upward is indicative of buying pressure. Significant bullish divergence is also noted. 

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