As Bitcoin continues to set new 2019 high after high, altcoins across the crypto market continue to bleed out, with many setting new lows relative to their BTC pairings.
With sentiment surrounding altcoins reaching extreme lows, these price levels could present lucrative buying opportunities if Bitcoin can stabilize above $6,000. If the leading crypto by market cap cannot, however, the bearish bloodbath may continue.
Altcoins Market At Dangerous Levels as BTC Dominance Spikes Continue reading “Bitcoin continues to set new 2019 high”
It was institutional buyers that pumped the bitcoin price by 23 percent last week, according to a prominent cryptocurrency analyst.
Alex Krüger said the latest bitcoin price action hinted systematic buying, an act of people pooling their strategy to purchase a financial asset in large volumes. Retail investors lacked the capital that could pump the bitcoin market capitalization by approx $32 billion in a week. So, it was very likely that a “handful of large players” initiated a coordinated pump, and bitcoin’s valuation rose wildly. Continue reading “Bitcoin price pumped by 23 percent last week”