Bitcoin is Dancing with the Stars
After Tuesday’s unexpected crash, altcoins apparently entered a consolidation period yesterday and for the greater part of today, until signs of a new of green candles started dancing with the stars.
Cryptocurrency market daily overview. Source: Coin360
All coins and Altcoins are feeling the effects of the sudden reversal. Ripple even bounced back to its stable coin price of almost $0.50 and the fanboys are celebrating like it is 1999. That means that they are popping two bottles of cheap Prosecco tonight. Craig Write of Bitcoin SV was interviewed by CNBC Fast Money where he said “I sold my hoard of Bitcoin to pay off my court order and then this happened? I am officially wrecked!”
Yesterday’s markets calmed down and apparently started another consolidation phase. However, today’s prices shot up faster than a junky that just got out of prison.
Some coins such as BSV, BTG and ADA hit their peak quickly and began trading sideways.
Bitcoin 24-hour price chart. Source: Coin360
Also, John McAfee tweeted in a rather chipper mood with hopes of not having to BBQ his privet parts.
The overall cryptocurrency market cap sits at $213.5 billion, with Bitcoin making up 68.2% of the total.