Bitcoin is on a winning streak as it keeps on rising, touching today’s highest at $7,410. Meanwhile, a number of altcoins viz. Monero, NEM, and OmiseGo become the double-digits gainers along with a few others.
Bitcoin on a strong momentum, hikes consistently
Since mid-August Bitcoin has been managing to rise continuously despite constant ups and downs. After hitting $5,917 on August 14, Bitcoin only advanced upwards. At press time, Bitcoin has been trading at $7,375 with a daily trading volume of $3.9 billion. Today, it moved between the range of $7,246 and $7,410.
From here, Bitcoin will find the resistance at $7,400 and then further at $7,600 while $7,100 is the support line. Furthermore, Bitcoin is managing a higher low. However, the low trading volume does put a strain but if the support holds, the bulls will be in for a strong momentum.
Altcoins are also moving in tandem with Bitcoin that has the BTC dominance on 53 percent. But if we take a look at the volatility of Bitcoin, it is only decreasing. Since June 30, when Bitcoin hit its lowest of the year at $5,765, the leading cryptocurrency price has remained above $6,000. The last time Bitcoin hit the June-low has been in mid-November.
As pointed by a crypto trader in his Tweet as well:
24H Volatility retesting yearly lows…
Obviously my assumption is a massive move up due us being at 7300 (where the majority of shorts were taken in a tight range). Still in longs. pic.twitter.com/W6Hb81wyV3
— Flood [Bitmex] (@ThinkingUSD) September 3, 2018
Meanwhile, cryptos making double-digit gains
Cryptocurrencies are also enjoying the gains. Among the top ten coins, Ethereum (ETH) and XRP are the only ones in the red by 0.04% and 0.23% respectively while Monero (XLM) and Litecoin are leading with highest gains.
Going for the double-digit gainers:
At 10th rank, privacy coin Monero is up by 14.42% at $139 while managing the daily trading volume of $71.8 million. Recently, Abra Global launched the European bank purchases of 25+ cryptos including Monero across 28 countries.
Up by 13.89%, XEM is currently exchanging hands at $0.126 and is at 16th rank with the 24-hour volume of $26 million. NEM recently shared the news of Verses, setting up blockchain-based property rights in augmented reality and Vantage Network migration from Ethereum to NEM network.
At $4.77, OMG has risen by 11.81% while being at 21st position. It is also running in the green that too in double digits in the BTC and ETH market. Having a market cap of $669,534,978 USD, OmiseGo’s 24-hour trading volume is $39,924,504 USD.
A few worth mentions are Waltonchain (WAN) up by 11.60%, Stratis (STRAT) hiking at 12.56%, and Komodo (KMD) has taken a substantial jump of over 19%.
BitcoinDark (BTCD) is today’s leading cryptocurrency in terms of profit as it is rising about 262% climinging $75.18. With a circulating supply of 1,288,862 BTCD, it’s market cap is about $96.8 million with a mere $824,537 trading volume.
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.