XRP Rises More Than 30% as Altcoins Piggyback on Bitcoin’s Wave
The native asset of the XRP ledger has surged to 16-month highs.
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BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....
BTC.D rises in price as altcoins suffer a bloody day in crypto. BTC.D attempts to break out above 8, and 20-day Exponential Moving Averages as altcoins struggle to hold their key support. The price of BTC.D eyes a rally to 48% as this could mean more pain for altcoins. Many altcoins have experienced a relief bounce across the market as Bitcoin Dominance (BTC.D) remains below the 40% marked area allowing altcoins to rally when the market recovers. With Bitcoin Dominance (BTC.D) rising from the ashes, we could see the price of altcoins suffering more pain than expected if the price....
The Bitcoin (BTC) price crash to $74,000 has left traders speculating whether the cryptocurrency has finally hit a bottom. However, a CMT-certified analyst suggests that Bitcoin’s price correction is far from over. He has predicted an even deeper pullback to $38,000 – $42,000, which he identifies as Bitcoin’s final price bottom. In a detailed Elliott Wave-based chart analysis, CMT-certified technical analyst Tony Severino outlines a classic 5-wave impulsive structure that appears to have completed its final leg near $85,000. Severino’s analysis highlights that Bitcoin’s latest....
Over the past week, many altcoins have experienced significant price increases. What is striking about this trend is that it has not only affected altcoins with small market caps (whose prices are easy to manipulate) but has stretched to altcoin heavyweights such as Dogecoin and now Nxt, who have previously encountered prolonged price declines. CCN analyzes the Nxt price increase within the context of its recent downtrend. Nxt Price Rises 14% in 24 Hours. The Nxt price rose 14% in 24 hours from September 4-5. On September 4, the Nxt price was 5,980 satoshis. For most of the day, the Nxt....
Ethereum has been seriously underperforming Bitcoin over the past few weeks, which comes as most altcoins lose significant value against BTC ETH has seen a few sharp rises that have helped it to buck this trend and gain some ground against BTC However, it has still been generally unable to keep up with Bitcoin’s massive momentum This trend may not last for long, however, as one analyst is now pointing to a few factors that […]