The cryptocurrency market, whether in its most profitable or least profitable state can still be defined as a highly unpredictable market for both novice and intermediate traders, the profound volatility of the market makes it impossible for any trader to be labeled an “expert” in cryptocurrency trading.
This week began with most cryptocurrencies floating in a bloodbath, one that has a reputation for being unstable, and into the week, some tokens amassed up to 7% in gains. Although this bloodbath cannot be eliminated, the market has managed to dodge the severity of the bears in the last 24hrs, enabling most cryptocurrencies to rake in a slight increase in trading volume while sustaining minor losses.
The top-ranked cryptocurrencies have been maintaining a rather reliable pattern with only a few losses in circulation, the top five tokens (Bitcoin to Tether) have only been down by as little as 0.85% to 1.25%, while other other underdogs have reduced by 2 to 3%, these patterns show a rarity that has not been on the market scene for a while. Typically, BTC, Ether, XRP, and most of the largest cryptocurrencies usually have a higher possibility of attaining losses, however, the bottomers seem to have taken the baton since the past 24hrs.
Bitcoin Cash and Bitcoin Satoshi Vision have shown themselves to be one of the highest losers today. Both tokens have lost a total of 4.09% and 5.32% since the day began. Despite this, BCSV has interestingly been able to stay afloat through the bearish downpours since it began trading in November.
While the token started with a trading price of $109.90 and $208.40, and a sky-high trading volume of $20.7 million on its first day, the reduction in trading price which is currently at $85.04 has not deterred it from maintaining stability, thanks to its increase by 15% earlier this week, which skyrocketed it to the 5th and 6th position for short period of time.