Bitcoin New Stable Trading Ground Creation – BTC Oct 6
Despite the fact that Bitcoin was struggling to hold above the $4,400 on Friday – Oct 6, a very stable trading ground is being formed above the $4,000 mark for days now.
Even that it is still not very close to its all-time high record of $5,000 it should acknowledged and appreciated by traders as a common sell-off would take place as soon as Bitcoin would reach any mark of that level.
This event is taking place as the global-scale market capitalization of all the crypto-world is flirting and closing in to the important and significant $150 bln while bitcoin did head afterward to $4,350.
This is an impressive recovery from the market dip on September to $97 bln as the digital currency crackdown was being experienced. Even that there was a weak start of the week, now altcoins and bitcoin are on the rally of recovery.
The market’s surprise episode came in the form of new altcoin eBTC, a confusing attempt to unite Bitcoin with Ethereum which debuted Monday at $0.03 and by Friday morning had shot up 2,500 percent to top $0.80.
In more stable circles, meanwhile, the lack of major movement had trader-commentators thinking further into the future.