0
📰 News
82 views

Market Analysis: Bitcoin Price Slightly Increases, Top Altcoins Remain in Red Territory While Credo Skyrockets by 46 Percent

  • Alex Dovbnya
    📰 News

    Crypto market records only a 0.2 percent increase, but this still might be the best week for crypto


Market Analysis: Bitcoin Price Slightly Increases, Top Altcoins Remain in Red Territory While Credo Skyrockets by 46 Percent

The whole industry is slowly rebounding after a major meltdown. While an intense battle between bulls and bears continues, a positive news cycle indicates that another market uptrend may be in the offing.

Bitcoin keeps asserting dominance

The market is still recovering from a recent bloodbath, triggered by the Goldman rejection. Over the last 24 hours, the total market capitalization (currently sitting at $196 bln) experienced a minuscule increase of about 0.2 percent, according to a DataLight report. Bitcoin (BTC), the flagship cryptocurrency, also increased by 0.69 percent (that is by no means an indication of another bullish uptrend).

In fact, BTC had the biggest increase in the top 10, which speaks volumes about the current market sentiment. Meanwhile, Cardano (ADA) shows the most upsetting result with a 4.4 percent drop.   

👉MUST READ

Can Bitcoin ETF Skyrocket the Market Like It Did For Gold?

Can Bitcoin ETF Skyrocket the Market Like It Did For Gold?

Credo appears in the spotlight

If to analyze the performance of other altcoins by market cap, Credo (CREDO), the current behind a Blockchain project that aims to tackle the problem of email spam, boasts the biggest price spike in 24 hours (46.5 percent). Emercoin (EMC) and Crypterium (CRPT) also saw a substantial increase (44 and 42.5 percent respectively). At the same time, ZClassic (ZCL) becomes the biggest loser of the day, plunging by almost 15 percent.  

An incredible week for the industry  

A prominent investor Joseph Young doesn't buy the drama. Indeed, the crypto market took a major nosedive the previous week with Ethereum (ETH) plunging below $200 for the first time in 2018. However, he points to a slew of recent major announcement in the crypto industry- from Citigroup embracing cryptocurrency custody to European officials backpedaling on their plan to regulate digital assets, giving a sigh of relief to the industry. On top of that, the Winklevoss brothers stirred some buzz by rolling a brand-new dollar-pegged cryptocurrency Gemini Dollar (GUSD)

👉MUST READ

Bitcoin Dominance Once Again Reaches New High For 2018

Bitcoin Dominance Once Again Reaches New High For 2018
 

Cover image via u.today
Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

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.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings