Bitcoin (BTC) and several major cryptocurrency markets began trading sideways yesterday. However, gains and losses among several top twenty cryptocurrencies did not exceed 4%.
Bitcoin price analysis
At the time of writing, the price per Bitcoin (BTC) is up by 1.42% and trading at $9,762.73 as per data from CoinMarketCap. Yesterday saw the OG cryptocurrency trade close to the $9,600 support for the majority of the day.
Mike Novogratz, a famed crypto investor stated that despite BTC trading below the $10,000 psychological barrier, the cryptocurrency is going through a consolidation phase. As per his statement, the next phase of the crypto’s bull run will commence at a time when institutional investors show more interest and involvement.
Ethereum (ETH), the world’s top altcoin remained noticeably stable yesterday as it traded near the $170 support. At the time of writing today, the altcoin is down by a modest -0.33% and changing hands at $171.05. Chris Burniske, Placeholder’s VC partner, stated that Ether is a smart long-term investment. As per his statement, the number one altcoin is simply enduring its first mainstream bear market, much like Bitcoin did during 2014 – 2015.
The third-largest cryptocurrency by market cap, Ripple’s XRP has been recording pretty stable growth during the past week. At the time of writing, XRP is down by 0.64% and trading at $0.255373.
Litecoin (LTC) is up by 0.49% and trading at $ 65.15, Bitcoin Cash (BCH) is up by 1.11% and Bitcoin SV (BSV) is up by 2.42% and trading at $131.56. The world’s number one stablecoin, Tether (USDT) is down by a modest 0.11%, EOS is down by 1.51% and Stellar is down by 1.53% at the time of writing.
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