Crypto Market Wrap: Bitcoin Still Dominating as Weekend Gains Hold

Crypto markets holding on to weekend gains; Bitcoin still dominating, XRP moving up, ETH retreating slowly.
Market Wrap
Crypto markets have held on to weekend gains and there has been no typical ‘Red Monday’ reaction so far. Bitcoin’s surge to new 2019 highs has buoyed up markets and several altcoins have also gained. A number have fallen however, but in general total market capitalization is high and holding above $280 billion.
Bitcoin traded above $9,300 twice yesterday marking a new high for thirteen months. A pullback dropped BTC price back to high $8,000s but it quickly recovered during Asian trading today to reach $9,200 again at the time of writing. Technical indicators and historical highs show a lot of resistance at $9,600 which will need to be broken for BTC to hit five figures.
Ethereum got a weekend boost reaching $278 but it has not been able to follow Bitcoin and hold those gains. ETH is down 2 percent since yesterday dropping prices back below $270. The longer term trend for ETH is still up though so more momentum could take it to $280 this week.
The top ten is pretty mixed during Asian trading on Monday morning. XRP is showing a little progress with a further 2 percent added taking it to $0.429. Litecoin has remained flat following its epic rise last week and is still at $135 and the rest are level with yesterday’s prices.
Top twenty movements are also mixed with Cosmos and Tezos getting the best performance adding over 4 percent each to reach $6.54 and $1.33 respectively. NEO has added almost 3 percent and NEM is back in the big twenty with a 5 percent gain. As above, the rest are pretty flat this morning.
FOMO: A Smiles For Grin
Entering the crypto top one hundred with a 12 percent push is Grin, a private lightweight blockchain based on mimblewimble. The only thing that could be driving momentum is an approaching hard fork next month. Bytom is the only other double digit altcoin today with 11 percent added, BitTorrent token is third gaining over 8 percent.
There are no big dumps going on as markets remain flat on the day. At the bottom of the pile right now is Dent, MaidSafeCoin, and KuCoin Shares dropping 5-6 percent.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization is at $284 billion, holding gains but remaining flat over the past 24 hours. Since last Monday crypto markets have gained a solid 16 percent, driven largely by Bitcoin. Over the same period daily volume has jumped from $60 to $75 billion. Bitcoin dominance is also up to 57.3 percent as it continues to eat into lack luster altcoins.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: Bitcoin Still Dominating as Weekend Gains Hold appeared first on NewsBTC.

Why Has Bitcoin SV (BSV) Plunged By 40% From Its $450 Peak?
Saturday January 18, 2020

Aside from Bitcoin, there’s almost no other crypto asset that has been talked about as much as the Satoshi Vision fork (BSV) over the past week. The past seven days for the now-fifth largest...

These Factors Suggest XRP Could Be Starting Its Next Parabolic Journey
Wednesday January 15, 2020

Today has been a great day for XRP bulls, as the embattled cryptocurrency has been able to outpace Bitcoin as it races up towards a key multi-year resistance level. This upwards momentum has come...

The post These Factors Suggest XRP Could Be Starting Its Next Parabolic Journey appeared first on 12bitplay - Bitcoin Play.

The post Why Has Bitcoin SV (BSV) Plunged By 40% From Its $450 Peak? appeared first on 12bitplay - Bitcoin Play.

Binance Futures Adding Chainlink Could Spark Major LINK Volatility
Thursday January 16, 2020

The margin trading wing of popular cryptocurrency exchange Binance has announced that they will soon be offering traders access to up to 75x leverage on popular cryptocurrency Chainlink (LINK). The addition of LINK to...

The post Binance Futures Adding Chainlink Could Spark Major LINK Volatility appeared first on 12bitplay - Bitcoin Play.

You may also like...