Bitcoin [BTC], Litecoin [LTC] and Ethereum [ETH] up by more than 3% as markets see a fresh wave of money
On Saturday afternoon, the cryptocurrency market saw a fresh wave of money. All the tokens are showing green candlesticks, with TenX, Loopring, and Augur leading the new wave. Major cryptocurrencies such as Bitcoin, Ethereum, XRP, and Litecoin too see themselves in the green zone after a week of a bearish trend.
Among the top 10 cryptocurrencies, Litecoin is leading the race by being up by 5%. Bitcoin and Ethereum have increased almost equally with 2.4-2.6% increase.
In terms of overall market valuation, $3 billion has been added to the cryptocurrency markets. Currently, the cryptocurrency market has a valuation of $125 billion.
Past pattern of the markets follow a typical trend – suddenly shoot upward up to $131-133 Billion, stabilize for a few days and suddenly shoot down to $121 – $122 Billion range, and this trend looks similar. Many investors and traders believe an unknown whale (or a group of whales) is manipulating the market.
Bitcoin is struggling to break the $4,175 resistance mark. If Bitcoin crosses $4,500 many analysts believe it could trigger a potential bull run up to which Bitcoin could potentially touch $5,500. But according to many influences, Bitcoin hasn’t bottomed yet. It’s interesting to note that most of these “influencers” have predicted wrong around 95% of the times.
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