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Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) Remain in Limbo While Binance Coin (BNB) Sees 4 Percent Increase

  • Alex Morris
    📰 News

    Bitcoin (BTC) is currently trading at $3,867.22 with a minuscule 0.22 percent price uptick over the last 24 hours


Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) Remain in Limbo While Binance Coin (BNB) Sees 4 Percent Increase
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The cryptocurrency market has shown an impressive level of stability – most top 10 coins remain in the green, but with miniscule price gains. Binance Coin (BNB) turned out to be the best-performing asset from the pack with its price increasing by 4.52 percent at the time of writing this article.

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A turbulent start results in a stable week

The last week of February started with a major correction that made the total market capitalization shed a whopping $13 bln in a matter of hours. Bitcoin (BTC), the flagship cryptocurrency, took a nosedive with its price falling below the $4,000 mark. Naturally, major altcoins followed suit by recording double-digit losses.

The news about Coinbase listing XRP made the prices surge again (XRP spiked 10 percent in a snap), but the effect wasn’t long-lasting. Now, the market remains in limbo (BTC - $3,868.61, ETH - $139.38, XRP - $0.31). BNB, which currently stands at $9.97, is the only coin that made a sizeable move.


A turbulent start results in a stable week

Winning retail investors back

The stability is not necessarily a good thing since, according to crypto trader Alex Krüger, BTC has to surge above the psychologically important mark of $6,000 in order to win back retail investors. Krüger compared the BTC trading volumes to a cemetery.

While Bitcoin is losing retail investors, more institutional investors are dipping their toes into cryptocurrencies. Mike Novogratz claimed that it would be a driving factor behind the next bull run.

Cover image via u.today
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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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