Bitcoin stays above $4,000 with market share diving

Bitcoin stays above $4,000 with market share diving

Bitcoin prices are staying above $4,000 for the third day in a row, thus backing expectations that a bottom might be in.

On Wednesday, the currency pair BTC/USD was last seen at $4,023.79, heading south by about 0.3% on the Kraken crypto exchange since Tuesday at 5 p.m. Eastern Time.

While the number one crypto asset is holding recent minimums, altcoins, or in other words crypto assets other than Bitcoin, have managed to outperform with many leaping as much as 50% on their minimums. It has decreased Bitcoin’s market share to about 51.4% in contrast with December’s outcome of 55.1%.

The programming instructor at Blockchain LLC, Jimmy Song told that notwithstanding the rumors that many have thrown in the towel, it seems to him that suppressed crypto prices will keep attracting new institutional money.

He added that the financial world is currently entering another period with the most popular crypto asset. A great number of the institutional players have told that they are done with this experiment that might be the case. He’s assured that some other hedge funds as well as other financial institutions will keep investing during this lower period.

On Wednesday, altcoins managed to tack on. As a matter of fact, Ethereum headed north by 0.8% being worth $149.95. The currency pair LTC/USD surged by 0.1% ending up with $39.05. As for BCH/USD decreased by nearly 0.8% coming up with a reading of $157.30. Additionally, XRP/USD surged by up to 0.8% being worth 36 cents.

Aside from that, on Wednesday, Bitcoin futures demonstrated a mixed start. February delivery Cboe Global Markets futures XBTG9 managed to ascend up to 0.4% ending up with a result of $3,985. February delivery CME Group futures BTCG9 went down by about 0.1% trading at $3,970.

Similar

Where is Dogecoin?
Where is Dogecoin?

Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!

Latest news

News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera