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

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Wed, 02/27/2019 - 17:20
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    Bitcoin (BTC) is currently trading at $3,867.22 with a minuscule 0.22 percent price uptick over the last 24 hours

Cover image via U.Today

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 KrĂĽger, BTC has to surge above the psychologically important mark of $6,000 in order to win back retail investors. KrĂĽger 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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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