As this Sunday trucks along, it has become rather apparent the cryptocurrency markets are getting battered once again. Despite a rising Bitcoin Dominance Index, it is fairly obvious to see the prices are being pushed down in violent fashion all across the board. Not the trend traders are looking for, but it is not entirely too surprising either.
Another bad day for Altcoins
This past week has been very interesting for all cryptocurrency markets, albeit not necessarily in a positive manner.
It was somewhat to be expected the current cryptocurrency market trend would make a lot of traders unhappy. As Bitcoin continues to show severely bearish signs, the rest of the markets are getting battered as well. It seems unlikely the Bitcoin price will reach $9.000 again in the near future, as a drop to $7,000 is more plausible.
Bitcoin Price Isn’t Rebounding yet
The world’s leading cryptocurrency finds itself in a rather awkward position right now.
Even though Bitcoin still shows no signs of slowing down, the top alternative markets wouldn’t mind to see things turn around ever so slightly. More specifically, all of the top altcoins are still in the red, with the EOS price drifting slightly lower every hour. Even though its current price point is still more than acceptable, one has to wonder how things will evolve over the next few hours and days.
EOS Price Seemingly Ignores Ecosystem Milestone
Even though it is far from uncommon to see altcoins lose value when Bitcoin goes on a tear, it remains to be seen if and when things will turn around for EOS and its “competitors”.
As Bitcoin seems to continue its very dominant run without missing a beat, one has to wonder how things will pan out for all of the alternative markets. In most cases, the competitors will lose tremendous value in their BTC ratio, which pushes down the USD value as well. If the XRP price is any indicator, the top markets will start to slip pretty soon. It is evident there is plenty of pressure, but it can be overcome without too many problems.
XRP Price Continues to Slip Slightly
Over the past few months, it has become more than apparent XRP is not necessarily performing as expected.
Wondering whether this is the best time to stock up on bitcoin? It is, at least according to a recent report by Adamant Capital. The report stated that the currency is in its last stage of the bear market; the accumulation phase. Bitcoin HODLers have begun committing for the long term again. BTC’s fundamentals are gaining momentum, the report stated, both as a disruptive technology and a financial asset.
Adamant Capital, founded by the very influential Tuur Demeester, has published two other similar reports.
It appears rather unlikely this minor amount of bearish pressure will cause any major cryptocurrency disruptions. A bit of a correction has never hurt any market although some altcoins are more susceptible to declines than others. The EOS price is quickly giving up ground, as the value has dropped below $5.5 once again.
EOS Price Momentum Doesn’t Look Promising
It is no abnormal for top altcoins to deal with minor setbacks over the weekend.
As the day trucks along further, it seems there is no real improvement in terms of overall market trend.
As all cryptocurrency markets try to find their next support level, it is only normal some projects will continue to lose value.
Bitcoin is still struggling at $3,600, with the currency unable to break above $4,000 in the past month.
As was to be somewhat expected, it appears most cryptocurrency markets have turned bearish once again.
These are not the best of times for cryptocurrencies, digital assets, and tokens.
It has become apparent this Sunday will not necessarily signal the beginning of a major crypto market rebound. That is unfortunate, primarily because things were looking somewhat promising earlier today. The Ethereum price is getting a massive beating once again as its value has dropped below $120 again. In BTC value, the losses are smaller but still significant.
Another Ethereum Price dip Rears is Head
For those traders and speculators who had high hopes for early 2019, it seems those expectations will need to be readjusted sooner rather than later.
A lot of people are wondering what the near future will hold for all major cryptocurrencies. Considering how so many altcoins rely on Bitcoin’s momentum first and foremost, it has become apparent the future Bitcoin price movement will play a key role in the overall crypto market. Some experts are still worried, as there is a very good chance the price will drop to the $3,000 range in the coming days.
The Bearish Bitcoin Price Outlook
The opinions on cryptocurrency prices and future valuations will always differ from user to user.
To follow your gut and hodl through the storm, or to yield to the market and sell before a possible continued bear market? This is the question many crypto investors have been grappling with in the wake of a $25 billion wipeout in the market. Bitcoin lost close to $1,000 in a few tumultuous hours earlier today as most cryptos saw red. And while it’s slowly recovering, the progress is slow and not yet convincing. Altcoins haven’t fared any better, leaving many investors at a loss of what to do.