Market Update: Bitcoin Still Well Above $5,000 As Bitcoin SV (BSV) Struggles

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Daily Crypto Markets Technical Analysis: XRP, Digibyte (DGB), and Electroneum (ETN)
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Ever since Bitcoin successfully surged past $5,000 a few weeks ago, it’s consistently been oscillating around that mark, going up and down as the days roll by. For example, in the last three days, it has dropped from $5,150 to $4980, rising again past $5,220.

There has also been very involved Bitcoin trading movement which is expected to push the price higher if it does continue like this. At the moment, Bitcoin still sits over $5,200.

General State of Major Altcoins

Most other coins are also doing well and trading consistently in green. Ethereum (ETH) has gone up 2.16% to $166.96 price, Zcash (ZEC) up 2.04% to $70.70, Basic Attention Token up 2.64% to $0.334 and XRP also increased by 4.21% to reach $0.338.

Others in red, include Litecoin down 1.82% to $79.84, Stellar Lumens (XLM) is down 0.26% and trading at $0.116, Ethereum Classic (ETC) down 0.84% to $6.21.

Furthermore, 0x (ZRX) Is up 1.43% to sell at $0.32, EOS up 1.47% to $5.47, the Binance Coin up 1.83% to $19.59, Cardano’s (ADA) up 2.42% to $0.0829 and TRON (TRX) up 1.75% to sell at $0.0268.

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Bitcoin SV

At the moment, Bitcoin SV (BSV) is having serious issues after Binance officially delisted it from their platform. Shortly after Binance made their decision public, Erik Voorhees who is the CEO of Swiss-based Shapeshift also announced their decision to delist BSV.

Currently, Bitforex has followed suit after an online vote saw more than half of over 50,000 respondents voting to delist the asset. Other platforms who have announced a similar decision include Bitrue, Bittylicious, Bitcoinrewards and Cryptorader. Due to all the problems faced by the coin, the price has fallen considerably.

Conclusion

The current Market Cap reads at $177.7 billion with a 24hr Volume of $40.6 billion with Bitcoin (BTC) consistently controlling more than half of the market as its dominance is 52.1% of the over two thousand cryptocurrencies currently available in the market.

The crypto market, in general, isn’t where it used to be years back because it has obviously seen better days. However, the general mood around customers, exchanges, investors, and stakeholders isn’t too apprehensive and does seem somewhat calm. Only time will tell how long this calm will last.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.