Bitcoin Price
As bitcoin prices is going up in the past 24 hours it has increased by $400 and now is worth $9200. It has maintained its momentum in $9000. Which investors recognize it as an important point to look at, as it can lead its price to enter the range of $10000 in a short-term.
Bitcoin’s Lead
One thing Investors have noticed in the market. When the Bitcoins price surges, Altcoins and tokens tend to surge by bigger margins. And when BTC price falls, Altcoins drop by larger percentage.
Although the market has gained $200 billion since April, cryptocurrency market is still going through a recovery in terms of uncertainty. Dominant Cryptocurrencies lead the market. (Bitcoin and Ethereum)
Tokens and Altcoins are generally following the price trend of bitcoin, the development in the bitcoin price will likely result in large gains for altcoin investors.
“BTC has been growing at 165 percent a year for the six years that we have been in business. And something that is growing that fast hardly ever gets down below its 200-day moving average. When it does it is a very good time to buy. It did five years ago when we launched our first fund and it just crossed that earlier in April”
Altcoins Steals the Show
Alternative Crypto currencies has continuously outperformed bitcoin and other large crypto currencies in the market over the past few weeks.
Today, some of the best performing Alt coins such as ICON (ICX), Ethos (BQX), EOS and Kyber network. All of these tokens have recorded more than 10% gains against bitcoin. Bitcoin gained around 3%.
Icons daily trading has reached 15,500 bitcoin with around half of it coming from the world’s largest cryptocurrency exchange binance and the other half coming from the south Korean cryptocurrency platforms such as Bithumb and Upbit.
Against the US dollar, ICON has increased 16 % rising $1.5 billion in market valuation and $145 million in daily trading value. Traders are attributing ICX price over the past 2 weeks. It is waiting for its main platform to lunch on April 30.
April 24, 16% surge against the US dollar. Indicators demonstrate decent buy from ICX, with both simple and exponential moving averages that shows a positive trend for ICX. ICX is currently rallying strong and can suffer a minor drop.
Tokens in general had demonstrated a good performance in April. As the market is still continues to recover with btc lead. More likely that ethereum tokens is showing major corrections from January to March it will gain for a short term.
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