Altcoins News

Story: Decrease in Bitcoin Volatility – Ethereum Heading towards $200

By Steven Anderson

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Ethereum is approaching the $200 mark, and over the past two days, the token has seen gains of more than 7% sustaining the current price of $194.

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ETH broke through the $180 resistance on Friday by a 4% price rally.  The ETH continued its momentum with a gain of 3% over the last 24 hours.

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The positive remarks, which were shared by Vitalik Buterin at the Ethereal conference in Tel Aviv contributed to the quick uptick in the price of the asset type.

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Buterin has discussed Ethereum's steady progress in privacy. The networks eventual move to Proof of Stakes (POS) was as well presented in the Conference.

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When comparing the 7.5% rise in the price of Ethereum, the Bitcoin registered modest weekly gains of only 1%.

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The market dominance cap for Bitcoin was down by 68.5% This was after it broke above 70% for the first time in nearly two years from the start of September.

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Ethereum is now back above the $21 billion market cap, and the trading volumes are active with more than $7 billion in a day.

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Bitcoin is in the apex of a large 5-month symmetrical triangle.  This recent breakout towards $200 is also a sign for what is to come for Bitcoin and the overall…

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For Bitcoin, the price went down by $200 in just a few minutes. To tick an uptrend, the price should climb up to $10,700.

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Bitcoin was unusually volatile on Monday despite the wake of tensions related to Saudi Arabia and the rise in oil prices.

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Dan Tapeiro tweeted:  "Bitcoin chart is very close to upside breakup. A strong close over 10,700 trend line should accelerate.”

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The current volatility chart readings are triggering significant Bitcoin Price moves.  There are potential for rougher conditions, which will have BTC/USD to close above…

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Several top cryptocurrencies were seeing light losses of nearly 1.5% versus the flat moves of Bitcoin.

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Erik Finman, a cryptocurrency entrepreneur, stated, "Hype has died down around Bitcoin."

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While Bitcoin has been trading in a tight range, the volatility reaching the lowest points ever since May is a sign of a slump.

The Currency Analytics

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