Bitcoin Extends Bullish Run While Other Altcoins Struggle
Bitcoin investors will be extremely happy with the turn of events in recent days, thanks to the cryptocurrency’s bullish run. The digital asset has been doing impressively well since the start of the festive period, recording an all-time high of USD 29,200.
Having reached over $28,500 previously in the week, the digital asset experienced another great surge in value on Wednesday. Should the bulls maintain its newfound transaction prowess, it won’t be any surprise if it reaches $30,000 in the nearest future. Unfortunately, the same can’t be said about other altcoins in the crypto space.
Ethereum EOS, XLM, LINK, BNB, TRX, bitcoin cash, DOT, Litecoin, and ADA are struggling to find their momentum. They look very far from exceeding the $745 or $750 price tag.
XRP showing bullish signs in the market
XRP investors will be relieved to hear that the digital asset seemed to be recovering from its recent loss of support from top-ranked exchange platforms as it established a support base above USD 0.200 in the last 24 hours. The past few days haven’t been too suitable for the XRP investors after many exchange platforms, including OkCoin and Coinbase, disclosed their decision to stop XRP trading.
Bitcoin price has been increasing since the start of the month, and experts expect the thread to remain the same for many days to come. The digital asset recorded a new increase in price, and it is presently valued at $29,300.
However, it could experience a brief downfall in price, just like we saw on Wednesday when it falls from $29,300 to $29,000 before it eventually stables at $29,300 towards the end of the day.
Other altcoins suffer a small crash
Ethereum’s price hasn’t been stable for a few days as it ranges from $745 and $750. It might likely experience a slight increase in price, which will see it range from $788 to $800 in the coming weeks. However, Ethereum’s present price was $720 by the close of all transactions last night.
Bitcoin Cash (BHC) is slightly above the $350 level, although it is tipped to gain an improved momentum, which will likely see its financial value rise to $360 or $388 in the next few weeks. Litecoin (LTC) experienced a 2% decrease in its trading value on Wednesday. It is currently valued at $130, and we believed it could experience a sharp decline in the next workdays.
Contrary to Litecoin, XRP price saw a massive 5% increase in price, bringing its trading value to more than $0.200 supports. Many will hope to see XRP gain more momentum to recover some of its lost financial value in the crypto world. As we head closer to the end of the year, experts are tipping some Altcoins to improve their financial value before the start of the next trade year.
Lastly, WAVES, XLM, ICX, SNX, NEXO, SC, OMG, DASH, XTZ, REP, KNC, and ATOM all suffer at least a 5% decrease in price, while WAVES saw its price reduced by 8% as it is presently costs $6.45.
