Cryptocurrency Market Update: Birthday Bitcoin Stays Over $6,000 for a Year

FOMO Moments

Markets have found a new level for now; Dash, OmiseGO starting to recover, Revain dumping still.

Crypto markets seem to have found another plateau for the time being. Yesterday’s big dump stopped just above $200 billion total capitalization and markets have remained at that level today.

Bitcoin has found support above $6,300 for now and has stayed there for the past 24 hours remaining flat on the day. The bears are still dominating things so a further decline to $6,200 could be imminent. Ethereum has extended its losses and remains under $200 at $197 at the moment.

Altcoins are currently mixed which suggests that they have found another level and no further losses have occurred. In the top ten only Monero has managed to claw back anything, and that is only 1.2% to just over $100. The biggest loser is Cardano again as ADA slips closer to dropping out of the top ten.

The top twenty is also half green and half red but only marginally. Dash is currently making the best recovery with a 2.5% gain to $156. Still falling is VeChain with a further loss of 2.5% during the morning’s Asian trading session. Just outside this area of the chart at 21 is OmiseGO has also made nearly 4% back today.

There are no double figure fomo pumps right now but topping the top one hundred’s best performing altcoins at the time of writing is Chainlink and Pundi X bit gaining 6-8 percent on the day. PIVX has also regained 5% and Loom Network is not far behind.

Topping the red end of the top one hundred and the only altcoin with a double digit loss is Revain shedding 13% at the moment. Also getting beat up is Cryptonex, Dentacoin, Digitex Futures, and Revencoin all losing over 7% on the day.

Total market capitalization has held the level it fell to yesterday which is $203 billion. Trade volume is a lowly $10 billion and this appears to be its new channel for now. We are still in the depths of 2018’s yearlong crypto winter. Bitcoin’s dominance has remained over 54% for its birthday and aside from a couple of quick dips has remained over $6,000 for a year which is remarkable.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

The post Cryptocurrency Market Update: Birthday Bitcoin Stays Over $6,000 for a Year appeared first on NewsBTC.

by Martin Young on October 31, 2018 at 10:30AM