Mainstream Cryptocurrencies Are Rising with the Trend, and Risks Are Accumulating- Jan. 4th

Analysts at Bexplus found that the number of mainstream coins that follow the rise of BTC has increased, and the price increase has also continued to expand. Space for ETH to make up for growth has increased significantly, and even in the context of capital outflow, the market is still in fermentation.

In terms of price increase, ETH’s short-term trading increased by 48% in three trading days. At the same time, mainstream cryptocurrencies have increased by more than 20% in 24 hours, including LTC. In other words, long funds are not only concentrated on BTC but also become active in more cryptocurrencies. Therefore, from the perspective of short-term gains, profit points are not limited to BTC.

The volatility intensity of BTC in the recent two trading days is 15% and 9%, and the price increase has been relatively large, but it has not yet seen an unexpected market performance. Because the percentage point is higher, the price range that BTC can cross increases.

From the performance of BTC trading volume, short-term BTC trading volume is higher than ever, reaching a high of 81 billion US dollars in 24 hours. The high trading volume at least shows that the long and short competition is fierce, and the number of BTC buy&sell has also reached a peak. Therefore, regardless of whether BTC can confirm the top reversal or not, there is a higher chance that BTC will maintain sideways at $35,000 this time.

( resource from coinmarketcap )

Comments (1)

[…] On¬†January 4, BTC just exceeded $30,000, and the price soon entered the adjustment phase that lasted for one month. With the price of BTC continuing to rise after adjustment in January, there is more room for supplementary increases in mainstream cryptocurrencies. BTC rebounded from $30,000 to a maximum of $56,562, and mainstream cryptocurrencies rose by as much as 88%. Considering that the market value of BTC dropped by 8.8% over the same period, the mainstream cryptocurrency increased nearly doubled during this period. […]

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