Altcoins Get Consumed Up As Bitcoin Continues To Grow Higher

Altcoins Get Consumed Up As Bitcoin Continues To Grow Higher

As at the moment, the whole cryptocurrency market has remained sideways in their operations. There is only one crypto coin that has managed to move up significantly, and that is none other Bitcoin. Both the BNB and XLM have dropped in values. Apart from Bitcoin, Monero has also shown signs of slow improvement.

The Market Wrap At The Moment

The cryptocurrency markets have inched backup to some extent today. As all this happen, the leading virtual coin by market cap, Bitcoin, has made another push towards a resistance that is in the mid $9.5ks. It is still very clear that Bitcoin is still in the driving seat and all the gains by other altcoins are so marginal when compared.

The total market cap has resumed back to the initial $285 billion and it seems to be moving towards the direction of a new 2019 price high. Following close to two days of consolidation, the price of this leading digital coin broke again in a 1-hour spike. This action sent it to an intraday high of close to $9,350.

From that time, several gains have been held as Bitcoin hovers around its highest price for more than a year now. A very huge wall of resistance now lies just above this kind of level. Therefore, further consolidation is expected in the next couple of days.

Crypto market

How Ethereum Has Performed In The Past Couple Of Hours

Ethereum has done nothing so significant just yet. As a matter of fact, this coin has not even managed a gain off the 2% pump of Bitcoin. Ethereum has stayed stagnant below the price of $270 and additional losses appear to be right below the price of $270. Up to this moment, there is still support at around $260, which is holding. However, this top rated virtual coin has enjoyed very little momentum all through the week.

The Outlook Of The Leading Altcoins

The ten most rated virtual coins have done minimally low in the past 24 hours. A number of these coins have been making movements in opposite direction. One of the biggest movements has come from Stellar that has dropped another 2% and appearing to be so weak since then.

BNB, on the other hand, has also dropped by 2% in the past 24 hours. There is also very little that is happening in the top twenty leading cryptos during the Asian trading that is ongoing. The only altcoin that is gaining is Monero, and it has made 3% to top $100. NEO and Cosmos have lost a total of 3%, while Tezos had now dropped from the leading twenty altcoins after having lost 4% just today.

The MaidSafeCoin Is Now Making It

There are a number of pumps that have been witnessed in the last couple of hours. However, the top performing altcoin in the top 100 is MAID. It had just gained 13%. There is nothing extraordinary that is driving it aside from the normal anti-Facebook rhetoric that is now known to all in the crypto market. The second best preforming altcoin is known as Egretia after having gained 8%.

June 20, 2019

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Samantha Mitchell