Bitcoin Bulls Refusing to Give Up While Prominent Altcoins Making a Strong Case

By Sunil Sharma
Published August 22, 2018 Updated August 26, 2018
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Bitcoin Bulls Refusing to Give Up While Prominent Altcoins Making a Strong Case

By Sunil Sharma
Published August 22, 2018 Updated August 26, 2018

Bitcoin is standing strong above the $6k level despite dropping from $6,900 today. Though the short-term price movement for bitcoin doesn’t seem to be positive, the altcoins have registered decent gains making a strong case for themselves while a few prominent ones are standing out from the rest.

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Bitcoin standing strong despite dropping from $6,900

Today has been a good day for the Bitcoin and the overall crypto market. Talking about Bitcoin, if you take a look at the chart, it clearly shows what great spike the price registered at just about half an hour. Starting its journey from $6,480, the price took a hike to today’s highest point at $6,899. However, afterward it started making its downward slide, but at a much-controlled pace. At the time of writing, Bitcoin has been exchanging hands at $6,673.

bitcoin
Source: Coinmarketcap.com

The world’s number one cryptocurrency has been maintaining its stance above the crucial $6,000 level for past one week after dropping just below the $6k mark at $5,882. Before this, it has been at the end of June, that Bitcoin price took a dip below this level.

Though the price is maintaining its hold, the trading volume keeps on suffering as right now it is managing the daily trading volume of $4.1 billion. Meanwhile, the BTC dominance is also seeing action at 53% which is about 1.50% lower than this year’s highest a few days back.

However, experts are not bullish on bitcoin price for now. The current market scenario is expecting the bitcoin to plunge, especially tomorrow being the deadline of Proshare Short Bitcoin ETF.

Also, read: Real-World Crypto Adoption Bursting Worldwide, CEOs See an Impending Rise

Meanwhile, these altcoins lead the market

Given the fact that Bitcoin Dominance has taken a slight dip, altcoins are faring really well. If we have to point out the top gainers, as usually happens, coins pop out from the bottom of the list with substantial gains.

This time, it’s a mix, Cortex (CTXC) with 28%, Waltonchain (WTC) by 17%, and Aurora (AOA) by 13% are the top 3 gainers of today.

The top 10 cryptocurrencies are also in the green: Ethereum (ETH) is up by 2.52%, XRP by 3.15%, EOS with 5.15%, and Litecoin by 4.10% while Cardano (ADA) is up by 2.13%.

VeChain (VET) – Out of the prominent coins, a few coins are doing really well in terms of development and price movement. To start with, at 18th rank, VeChain (VET) is up by 8.71% at $0.015. This cryptocurrency has made a lot of development in terms of vaccine tracking systems in China and its founder Sunny Lu keeping the market hot with his mainnet and token swap explanation.

vechain
Source: Coinmarketcap.com

IOTA (MIOTA) – IOTA is one of the few cryptocurrencies working on real-world use cases and adoption. Currently, it is up by 5.65% at $0.541. This cryptocurrency holds a lot of potential as it works on its product.

IOTA
Source: Coinmarketcap.com

Nano (NANO) – At $1.95., Nano has risen by 12.27%, seeing a good spike whenever bulls make an appearance in the market. The past week has been good for this cryptocurrency in terms of price.

nano
Source: Coinmarketcap.com

Basic Attention Token (BAT) – With a $214 million market cap, BAT is rising by 7.04 percent at $0.214. Though the rise in price isn’t much, the cryptocurrency in itself has gained a lot of attention with its idea to incentivize the user to allow ads on its Brave browser.

BAT
Source: Coinmarketcap.com

So, overall, for now, the market is in green and on rising but only tomorrow will tell if the surge will continue or will get wiped out!

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil Sharma
203 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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