| After particularly tumultuous and volatile few months, this week we saw Bitcoin stabilizing slightly as the trading volume dipped. The SEC rejected yet another pile of Bitcoin ETF requests. Regardless of the small price drop, Bitcoin seems to be keeping its positive trend. The US-China trade war continues and in the face of the declining capital markets, the price of gold and silver continues to rise. However, unlike major economic crises in the past, this time Bitcoin is also in the picture and if we look at domestic crises in recent years, Bitcoin has responded with a sharp price rise. It is only logical to assume that it may behave the same in a significant international crisis. Meanwhile, traded Bitcoin volume on popular P2P exchange LocalBitcoin has reached new highs, in response to the downfall of the local peso and the collapse of the country's stock exchange.
In the Alts arena, the declines were somewhat halted and after Bitcoin's dominance almost reached 70% Alts has started an upward correction. However, the bottom is hard to establish just yet and Bitcoin's dominance may continue to climb. The correction of the Alts market comes as a result of the ICOS trend that has inflated the market. | 
BTC: $10,847
ETH: $207
XRP: $0.294
No comments:
Post a Comment