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Bitcoin (BTC) Shows Unprecedented Level of Stability During the Weekend

  • Alex Dovbnya
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    💪👀Is Bitcoin becoming a stablecoin? The price of the number one cryptocurrency barely shows any signs of life over the weekend when the volatility is usually higher. Meanwhile, things are getting more exciting at the altcoin party

Bitcoin (BTC) Shows Unprecedented Level of Stability During the Weekend
Cover image via u.today
Contents

Bitcoin (BTC), the number one currency by market capitalization, experienced practically zero price movement over the weekend. During the last 24 hours, the BTC price had a minuscule upward move of 0.11 percent.

Bitcoin (BTC) Shows Unprecedented Level of Stability During the Weekend

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Playing dead during the weekend

As reported by U.Today, crypto trading analyst Luke Martin (better known as Venture Coinist) suggested that Bitcoin kept ‘playing dead’ during the weekdays and only displayed signs of life during the weekend. Case in point: the brutal carnage that happened on Sunday, Feb. 24, that tanked the BTC price back to the $3,800 level.

Many traders expected that the BTC price would make some moves during the weekend, but it wasn’t the case. In fact, Bitcoin, which constantly bashed because of its extreme volatility, was even more stablecoins than some stablecoins.

Playing dead during the weekend

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The broader market

Speaking of the broader cryptocurrency market, it is worth mentioning that Cardano (ADA) firmly holds its tenth place on CMC after pushing Tron (TRX) out of the top 10 on Saturday. The 22 percent spike was triggered by the highly-anticipated Cardano 1.5 upgrade.

Meanwhile, Stellar (XLM) has ceded ground to Tether (USDT) once the IBM hype fizzled out. Binance Coin (BNB) was the biggest gainer of the day with a 12 percent price spike.

The broader market

 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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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