Crypto experts: “Bitcoin still has air to the top
As Coin360’s data shows, Bitcoin has again attempted to break the 9,500 US dollar barrier today, Tuesday. However, this mark appears to be persistent as any rally towards $9,600 will encounter strong resistance.
By the time this report went to press, the market leader was back at 9,430 US dollars, after a slight downturn to 9,200 US dollars at the beginning of the day.
The positive statements of the Chinese government on blockchain technology are currently causing a lot of fuss in the industry, although crypto currencies were not explicitly mentioned. Nevertheless, the Bitcoin exchange rate was possibly favoured by the statements.
The crypto experts in the social media suspect that there is even still room for improvement.
For example, a user named Crypto Rand says that “#Bitcoin is still pushing upwards”.
Twitter user Rhythm is also confident, writing: “After the events of the last few months, I’d feel safer with Bitcoin in my portfolio than without it”.
In addition, there are other positive developments regarding the mass suitability of Bitcoin. For example, the crypto trading platform Bakkt recently reported a record trading volume for its Bitcoin futures, and the company is also planning a crypto currency payment app to be launched in collaboration with Starbucks in the first half of 2020.
Altcoins move sideways
Meanwhile the Altcoin move mostly sideways and can win or lose between 1 – 2% each. This corresponds approximately to the current behaviour of Bitcoin.
Ether (ETH), the second largest crypto currency and thus the market leader Altcoin, can gain 1.4% and climbs to a price level of 187 US dollars.
Among the remaining top 10 crypto currencies, Bitcoin Cash (BCH) is the clear daily winner, who despite the current difficulties of its big supporter Bitmain can increase by a strong 10%. As Cointelegraph had reported, the mining company suddenly experienced internal unrest, leading to co-founder Micree Ketuan Zhan leaving the company.
The total market capitalization of all crypto currencies also increased slightly today, reaching $251 billion at the time of going to press. Meanwhile, Bitcoin’s market share is dropping to 67.7%.