The big pump has happened on this saturday morning on Coin Market Cap. Altcoins with double digit gains include Bitcoin Cash, Neo, Ethereum Classic, and Ontology
The bounce in Crypto market was expected however the magnitude of it is a very positive sign. Crypto markets were plummeting for weeks, and are still very low, however the rebound was far bigger than the previous one indicating that this may be the reversal everybody has been waiting for.
In about three hours Bitcoin (BTC) pumped $500 which gives it a 9% gain on the day. Bitcoin was trading just below $5,900 yesterday it has now jumped back to the previous resistance level of just over $6,400. The rest of the altcoins naturally followed the path of the mother currency bitcoin, with Ethereum (ETH) jumping 7% to $450.
This levels are still very low and may resume bearish momentum but the big pump is welcome news this Saturday morning.
The biggest gainner today at the moment can be seen in Bitcoin Cash (BCH) rocketing at 14% from $650 this time yesterday to $755 at the time of writing this article. Litecoin (LTC) has also bounced 10% and again back to over $80, and Stellar (XLM) has also seen a gain of 10% to back again under $0.20. Cardano (ADA), which has taken a bigger beating lately, is up 12.7% on the day to trade at $0.133.
Neo has made a small recovery of 11.6% and it is now trading at just over $31 at the moment. Ethereum Classic (ETC) is enjoying a 12.5% climb this morning to $16.30 and Ontology (ONT) has risen over 14% to $5.44.
Most of the other altcoins are up between 8-10% as they follow the path of mother of all currency Bitcoin. In the top 30 coin list 0x (ZRX) is showing the biggest gains at the current time pumping 22.5% to trade at $0.73. In the total top 100 payments provider TenX (PAY) has the largest gain on the day with a whopping 67% surge to $0.88.
It may be too early to get excited about this move, which may turn out to be just another small correction before further bullrun. Total crypto market capitalization has jumped back over $250 billion with an 8% climb on the day. This equates to just over $19 billion going back into crypto markets in the past 6 hours to put them at the $255 billion level. Trade volume has climbed from $11 to $14 billion but is still relatively low. The markets are back at the same level they were this time last Saturday but over the past month are still down 23%.
What do you think guys is bullrun about to start or this is just a fake pump. Let see were the prices go during the weekends. But this pump is highly needed to increase the coin market cap.
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@airdrophunter according to technicall analysis it will go up more now
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Yes it will go up. Followed you.
Looks like crypto market is slowly recovering. Let's see how far it can go this time.