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[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

TRON News - Bitcoin Holds Above $4,000, Tron About to Take Tether’s #8 Spot on CMC

  • Yuri Molchan
    📰 News

    Bitcoin manages to stay above the $4,000 point with the overall green top-10 list, Tron is holding 9th spot, eager to keep moving forward until the end

Bitcoin Holds Above $4,000, Tron About to Take Tether’s #8 Spot on CMC
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On Wednesday, January 9, the upper ten coins on Coinmarketcap look pretty well. Nearly all of them are in the green.

BCHSV is the only loser

With Tron (TRX) on Monday pushing out Bitcoin Cash SV from its 9th spot on the top-10 list, BCHSV is now the only crypto asset in the red. Over the last 24 hours, it has dropped a little, whereas the other top ten coins are rising.

The top gainer today is Tron, having added 5.34 percent at the time of writing this article.

The other eight virtual assets have risen within 2 percent, more or less. The top three gainers here are Litecoin (+1.75 percent), Ethereum (+1.72 percent) and EOS (+1.67 percent).

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Tron aims at surpassing Tether

As U.Today reported earlier, Tron swapped places with BCHSV, exceeding the latter by the market cap value. Now, one of the major Tronix, a co-founder of IAmDecentralized.org,  has announced on Twitter that Tether (USDT) stablecoin will be the next for Tron to move out of the way.

 

Curiously, Tron has almost caught up with the stablecoin by the market cap figure. The similar situation was with Bitcoin Cash SV and TRX got over that gap within one day.

 market cap

More good news for Tron

Tron Arcade fund has reported in Twitter that the first dApp ever made on Tron, Tronbet, is among the top-five dApps on the Dappradar.com website. It holds spot #5.

 

Top-20 best-performer

As for the list of top coins from #20 to #10, the worst performers here today are Dash (-0.01 percent) and the Maker stablecoin (-3.08 percent). Curiously, Maker has recently managed to enter the top-20 ‘club’ whereas before it had been hanging just outside it for quite a while.

The best-performing assets on this list so far are Neo (+11.15 percent) and Binance Coin (+5.99 percent). It is closely followed by Cardano (+3.39 percent). The other virtual assets on this list have not grown higher than + 2 percent.

Among the other top gainers on January 9, beyond the top-20 list, are Holo (+18.07 percent), Pundi X (+17.62 percent), Aurora (+11.26 percent).

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TRON News - LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?

  • Jack Thomas
    🤷 Opinions

    ☀️📈Since the Crypto Winter started thawing, all the main action has come from altcoins, and now a few are breaking key moving averages

LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?
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Contents

While the cryptocurrency market may not be fully bullish and breaking new records in terms of gains and growth, one thing that seems to be apparent is that the total bear market is starting to draw to a close. There has been a lot more positive sentiment in the past few weeks and months.

A lot of this has had to do with a few altcoins putting on good performances in the market. Thanks to positive news with a number of top 20 coin projects, their own token value has been rising – as well as importantly staying up.

Now, there is technical analysis that suggests that coins like Litecoin, Tron and Binance Coin, as well as lesser-known Maker, are trading above their 200-day moving averages, a development typically considered a sign of a healthy market.

This is good news across the board, but what is interesting to keep an eye on is whether Bitcoin will manage to keep up, outdo the altcoins, or potentially start falling behind, enforcing a true altcoin season.

Making a move

Of the top 20 largest cryptocurrencies by market capitalization as per CoinMarketCap, both the BTC and USD pairs of Litecoin, Binance Coin, Tron, and Maker are currently trading above their respective 200-day moving averages.

A moving average is simply an ongoing calculation of the closing prices of an asset over a specified period of time, but is also a tool traders use to gauge the asset’s trend direction as well as support and resistance levels.

These positive moves by top ranked cryptocurrencies are thus reinforcing the notion that the cryptocurrency market is heading towards spring again.

However, Bitcoin, as the head and the mover of the cryptocurrency market, is still trading below its own 200-day moving average, which could also be a reason why people are skeptical of flooding back into the market.

Altcoin season?

While Bitcoin has often been the catalyst and mover of the direction of the markets – and still predominantly is today – there have been times where the remainder of the coins take charge of the direction of things.

It is still early in the supposed Crypto Spring, but with altcoins making the biggest movements and helping prop up the market, one could assume that the market is heading for another altcoin season.

The last one was seen soon after Bitcoin’s All Time High as the remaining coins caught the tailwind of that astronomical growth, but things could well be reversed here if a few more major altcoins catch up and can cross their own 200-day moving averages.

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