After suffering for over a month traders are finally happily and those who have been holding their Bitcoins are excited as the price of number one Cryptocurrency surges. Bitcoin surged more then 25% yesterday as Segwit on Bitcoin gets lock in and there were profits falling from everywhere. The looming attack of being split is over but what is coming next?
Well, Since Bitcoin is up the market is carefully watching where it will stabilize. Bitcoin went above $2900 and was traded around $2700 yesterday but is now back at around $2600, the price will take time to stabilized.
However, the good news the whatever is coming ahead is good specially with the Altcoins market in sight. As soon as Bitcoin price stabilizes the traders are likely to transfer their money in Altcoins to make more profit.
Overall the Altcoin market is still down and many of top 100 Altcoins listed on Coinmarketcap are below 50% from their all time high after the big crash or let say after the big blood bath of Cryptomarket. As soon Bitcoin stabilizes and traders confidence starts to build the Altcoin market is likely to boom and might even recover their depreciated value.
Well, Since Bitcoin is up the market is carefully watching where it will stabilize. Bitcoin went above $2900 and was traded around $2700 yesterday but is now back at around $2600, the price will take time to stabilized.
However, the good news the whatever is coming ahead is good specially with the Altcoins market in sight. As soon as Bitcoin price stabilizes the traders are likely to transfer their money in Altcoins to make more profit.
Overall the Altcoin market is still down and many of top 100 Altcoins listed on Coinmarketcap are below 50% from their all time high after the big crash or let say after the big blood bath of Cryptomarket. As soon Bitcoin stabilizes and traders confidence starts to build the Altcoin market is likely to boom and might even recover their depreciated value.
This post has received a 0.80 % upvote from @booster thanks to: @shafay.
Thanks :)