Bitcoin Price Stable, Altcoins Send Mixed Signals After Fresh Gains

Bitcoin, which managed to climb over $9,600 earlier today, is now trading at $9,531, up around 0.1% on the day at press time. Bitcoin dropped below the $10,000 threshold earlier this month on Aug. 28 amid a sharp sell-off that led to an 8% loss over the past 7 days.

The intraday low of Bitcoin has amounted to $9,432.

Friday, Aug. 30 – after seeing some growth on the day, crypto markets are trading sideways, with top-20 coins by market cap sending mixed signals.

Bitcoin 24-hour price chart. 

Ether (ETH), the second cryptocurrency by market cap and the top altcoin, is down 0.7% to trade at $169 at press time. Over the 7 days period, the altcoin is down 13%. On Aug. 20, crypto investor and Placeholder partner Chris Burniske argued that Ether has been experiencing its first mainstream bear market.

Ether 7-day price chart.

Ripple (XRP), the third top cryptocurrency by market cap, tumbled 1.8% over the past 24 hours and is trading at $0.25 at press time, which is a 7.9% drop over the past 7 days. On Aug. 26, Twitter personality CryptoBitlord posted a tweet suggesting an XRP fork in order to fight against the alleged dumping from the founders.

Ripple 7-day price chart.

Losers and winners

While most of the top-20 coins by market cap are seeing minor movements, Ethereum Classic (ETC), the 17th largest crypto by market cap, is up 7.7%. As previously reported, one of the reasons for the recent ETC surge is the upcoming Atlantis hard fork, which is expected to occur on Sept. 13.

On the other hand, privacy-focused coin Monero (XMR) is seeing the largest losses among 19 top peers on the day, down 1.9%.

Meanwhile, total market capitalization does not see any notable changes over the day at press time, standing at $247 billion. Daily trade volume dropped from $60 billion to $45 billion so far.

Yesterday, Binance announced that the company will learn from regulatory problems of Facebook’s proposed cryptocurrency Libra in order to avoid its mistakes at mastering Binance’s open blockchain project Venus.

Bitcoin Price Remains Uninspired at $10,200, Altcoins Go Into Red

Friday, Sept. 20 – The price of Bitcoin remains largely uninspired and is once again trading sideways around the $10,200 price mark.

Although BTC is back at trading sideways, Fundstrat Global Advisors co-founder Tom Lee expects this to change with the coming launch of Bakkt and is positive on its ability “to improve trust with institutions to crypto.”

The world’s largest cryptocurrency continues to trade flat, with an intraday high of around $10,280, while slowly trading downward to its current trading price of $10,147, showing a loss of 1.16% on the day, according to data from Coin360.

Price analyst Rakesh Upadhyay wrote today that a breakout of the downtrend line of the symmetrical triangle will indicate that the bulls have overpowered the bears and a new trending move will begin. He expects the momentum to carry the price to the yearly high of $13,973. While the rally might face resistance at $12,304.37 and $13,156.96, he expects these levels to be crossed.

While Bitcoin fails to impress, Ether (ETH) is holding on to its recent gains well above the $200 price mark. The most popular altcoin is currently trading at $217.97, while showing a loss of 0.63% on the day.

Ripple’s XRP token dropped below the critical $0.30 price point yet again, from an intraday high of $0.3127. At press time, the world’s third-most popular coin is down 1.43% in the last 24 hours.

Top-20 altcoins mostly in the red

Most major altcoins are experiencing a red candlestick day, but EOS is up 1.34% in the last 24 hours and IOTA is showing an impressive gain of more than 6.5% on the day. Cardano (ADA) and Ethereum Classic (ETC) are also both up, 2.44% and 0.11%, respectively.

The biggest top 20 losers of the day are Stellar (XLM) with a massive correction of 7.9%, and Tezos (XTZ) down over 5% on the day.

The overall cryptocurrency market cap sits near $270 billion, with Bitcoin making up 67.7% of the total.

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