The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Bitcoin moderately ascends, as blockchain bulls put pressure
On Monday, Bitcoin managed to head north a bit due to the fact that market participants seek catalyst to break prices out of the lull.
In early Monday trade, the currency pair BTC/USD came up with an outcome of $6,604.87 adding about 0.9% on the Kraken exchange.
While market participants are dreaming of volatility, fans of the underlying technology are actually relishing the suppressed volatility, referring to soaring use cases for an asset, which doesn’t come with intraday swings of nearly 10% like it faced previously.
A number of financial analysts point out that as they have told many times, a steady price appears to be good for adoption, and also great for development of the blockchain network. Financial analysts added that they’re currently in an upbeat place for Bitcoin, and respectively market participants need to be ready to take advantage of it.
The overall value of all crypto assets last accounted to $220.2 billion. For the most part of October it has fluctuated between $215 billion and $225 billion. That’s what data from CoinMarketCap disclosed.
Crypto assets other than Bitcoin, also dubbed altcoins are heading north with Bitcoin on Monday. As a matter of fact, the currency pair ETH/USD managed to tack on by up to 0.5% being worth $224.23. Besides this, the currency pair BCH/USD added 1.6% reaching $519.00. Additionally, the currency pair LTC/USD managed to rally by about 0.9% ending up with $57.80. As for XRP/USD, this currency pair turned out to be the top-notch performer, soaring almost 2.6% hitting 48 cents.
On Monday, Bitcoin futures were seen going up. October delivery XBTV8 futures managed to head north by up to 0.9% reaching $6,595, while October delivery futures BTCV8 inched up by up to 1.7% coming up with a reading of $6,640.
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