The cryptocurrency market is making yet another correction. As usual, coins and tokens which had taken both major and slight downturns have begun to take a different turn. More precisely, the cryptocurrency market has the majority of both top and bottom cryptocurrencies attaining sizeable gains.
While the week initially began with a gloomy structure, the first day of the new month is one of the most promising that the market has seen since the year began.
In line with that, coins are pushing up so strongly that competition is arising with each second. Although most cryptocurrencies have only increased by a little between 2% and 4%, some others have jumped so high that an overthrow is soon to take place.
At press time, BCH which is the second highest gaining coin after Ravencoin which is now attained gains slightly over 12%, is moving up quite impressively. More interestingly, BCH’s market cap of $4.83 billion is only a few numbers away from hitting $5 billion, if this happens, the trading price will take a spike that is certain to send the coin back up to the $300 mark.
Meanwhile, LTC is heading for a tie as its market cap of $4.53 billion is also coming up strong. The coin has been gaining momentum well enough to dethrone EOS. Despite the back and forth between the EOS token and LTC, the coin has consistently shown its capabilities of breaking bounds.
This time, LTC is headed for the fourth spot. While the possibility of this could be hindered by EOS which is only $1 million away from LTC, the end product remains that BCH has two very close competitors and is likely to give way for either.
This will not only be a big move for whichever cryptocurrency makes this upclimb, but trading volume will also most certainly spike in coming weeks as traders will influence adaptability.