The new week got off to a very volatile start this morning. We see this when we look at the current price of the top 25 crypto coins. The Bitcoin price has remained remarkably stable in all these movements. We also look at how this volatility casts doubt on the Bitcoin and which price records fell this weekend. Koersprijs Vechain is omhoog.
We will of course start with the current prices for the Bitcoin and top 25 crypto coins.
Bitcoin stable in volatile crypto market
At the time of writing, the Bitcoin price is EUR 50,236.97 ($ 59,766). That is 0.27% higher than yesterday and slightly lower than during the price forecast for the coming week. Clearly, the largest cryptocurrency continues to struggle with the $ 60,000 psychological barrier and is moving horizontally.
This horizontal movement is an exception today. The rest of the crypto market is very volatile. We see big gains, with BinanceCoin (BN) leading the top 25 with a profit of 27.93% in 24 hours, but a hefty number of losers. Stellar (XLM) ticks the largest correction after a price record with a loss of 6.83%. Of course you can follow the action in the crypto prices 24 hours a day via the live crypto prices of Tradeincrypto.com.
Volatility creates doubts about Bitcoin
It was a special trading weekend. Because the Bitcoin moves horizontally and not structurally through the $ 60,000, more and more traders are shifting their interest towards the other crypto coins. This is clearly visible in the dominance of the largest crypto currency. Where we saw a dominance of 72.44% at the beginning of the year, it has now dropped to 55.63%.
It is also striking that Ethereum (ETH) does not benefit from this. In fact, there too, dominance has declined sharply since the beginning of this year. We see that the declines mainly benefit Ripple (XRP), BinanceCoin (BNB) and various smaller crypto coins, which are aggregated in the Tradingview.com statistics under the heading “other”. De Cardano koers is omhoog.
Based on this data, analysts conclude that there is growing doubt about the potential of Bitcoin in the short term. We must of course realize that the price figures we see only relate to the stock market and therefore mainly to smaller investors. The investments of large investors, so-called institutional investors, will continue for the time being. Incidentally, the spread of investment in crypto coins does ensure good results for the various Altcoins.
We look back on weekend of price records in crypto
It is good to see that the interest in crypto coins leads to price gains. This weekend, price records fell for Ethereum (ETH), which hit nearly $ 2,200, and BinanceCoin (BNB), which first passed $ 600 and is still rising. Litecoin (LTC), Stellar (XLM), VeChain (VET) and Solano (SOL) also set price records.
Eyes are on Wednesday, when Coinbase shares will be traded on the stock exchange for the first time. We will examine the possible impact of this in a new contribution.
Want to stay informed of the latest price developments?
You can always follow the developments yourself with our outlook on the crypto market and Bitcoin. Of course you can also follow the live prices 24 hours a day if you want to stay informed in real time.