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Bitcoin News: Bitcoin [BTC] Price Volatility Affecting Other Altcoin States

Bitcoin the leading cryptocurrency with a market dominance of 62.3% on other 2318 altcoins is still a leader in the crypto space. As on Friday, July 5, BTC is trading at a price of $11,259.63 after the correction. There is no doubt the chances of the bearish market is still high, however, the upward trend would be extending to the medium term.

Also Read: Bitcoin Price Growth Doesn’t Affect Crypto Mobile App Downloads

Ethereum [ETH], Ripple [XRP], Litecoin [LTC], Bitcoin Cash [BCH], EOS, Binance Coin [BNB]

It seems that the ups and downs would be going to continue for quite some time because the behavior of BTC is quite explosive in its own way. From the last week of June till date bitcoin changed its upward trend from $9,700 to $13,800 and now hovering around $11000, that has hugely affected the rest of all the altcoins. When bitcoin was going up speculators analyzed the upcoming positive tendency for the other altcoins. Although, while tracking on Friday crypto market the current state of Ethereum (ETH) has slipped below $293.34 and in the past seven days it is down by -3.70%, Ripple (XRP) is trading at $0.383516 with a total circulating supply of 42,566,596,173, it has gone down by -7.23%, Litecoin (LTC) is dealing at $120.16 and is up by 1.95% from the past week. Whether it is Bitcoin cash (BCH), EOS (EOS), Binance Coin (BNB) all are respectively reflecting in red as per CoinMarketCap data.

Also Read: Bitcoin Time is Faster Than Internet Time: Blockstream CEO Adam Back

According to the analysts, the Moving Average Convergence Divergence (MACD)

on the daily chart is indicating a bullish cutting pattern with a high chance of success in the upcoming time.

The directional movement indicator (DMI) on the daily chart is showing that bulls have already increased their pumping in the double bottom zone (technical analysis charting pattern), and this is actually a bullish trend which we can see soon. The activities are also strengthening the other altcoins somehow which are showing low signs of growth as of now. 

Tags: Cryptocurrency, Bitcoin News, Altcoin News, BTC, ETH, XRP, LTC, BCH, BNB.

Also Read: Bitcoin [BTC] and XRP Aren’t Opponents, Says Ripple CEO