Bitcoin At $3,860, Market Still At $130bn: Is A New Rally Coming?
Over the past week, the latest Bitcoin news have shown that the cryptocurrency market is idle and not willing to go above the $130 billion mark. Without movements on the upside or downside, all we see are mild movements which go in below one percent decimals.
The situation is practically unchanged for Bitcoin (BTC) for days. The most dominant cryptocurrency is recording a stable daily trading volume and hasn’t even made it to its resistance level at $3,900 which could be a sign that some steam is running out and a further damp is expected.
Bitcoin continues to consolidate between $3,830 and $3,870 as the daily volume remains stable at $7.5 billion. Meanwhile, Ethereum continues to slowly weaken day by day, despite its growth over the past few weeks.
ETH is now down to $135 which is marginally lower than yesterday’s levels. Some people state that it has mirrored Bitcoin’s actions until last week, when it started going sideways, just like Ripple (XRP) and the rest of the top 5 cryptocurrencies.
The only bright side in the market is now Litecoin (LTC) which is doing anything rather than sitting. LTC has surged by 2.7% yesterday and now has the third largest volume of all cryptos – managing to get back close to $50 and is closing the gap to EOS which is idle for a couple of days now.
A big move could be only possible if the trading volume increases, but as it is, we won’t be seeing that in the near future.