On Friday, Bloomberg joined the multiple cryptocurrency industry commentators to highlight Bitcoin’s lack of volatility, with October 2018 being the least volatile for eighteen months. Commentators claimed this was a sign the leading coin was nearing its bottom.
Data from Cointelegraph’s price tracker and Coin360 paints an underwhelming picture for short-term speculators, but one that has delighted many analysts, who have begun hailing a new era of Bitcoin stability.
At the same time, one fund management head told the publication, the ongoing bear market should be “getting tired” and a bullish upturn was likely to form Bitcoin’s next move.
At press time, BTC/USD is up just a fraction of a percent over the past 24 hours to trade around $6,480. The pair has also remained uncannily stagnant since the end of last week.
Among the altcoins, Ethereum (ETH) is also recording only a minute percent change over the past 24 hours to press time.
Attention had largely fallen away from the largest altcoin asset this week ahead of a planned hard fork in January which, as Cointelegraph reported, has faced various hurdles to its implementation. Constantinople, as it is known, was originally scheduled for next month.
ETH/USD is currently trading just under $203, just slightly down since the same time last week against a backdrop of around 8 percent monthly losses.
Across the top twenty altcoin assets, no anomalies to the sideways trading trend had appeared, with coins staying within a tiny 1 percent of their position 24 hours previously. The only exception is Zcash (ZEC), ranked 19th by market cap, which is seeing a little over 4 percent losses to trade at $121.22 by press time.
Total market capitalization of all cryptocurrencies remains just under $210 billion, a level it has been holding close to for the past week.