Bitcoin Surpasses $9K, Eyes $10K Amid Altcoin Slump

Published on January 3, 2020 by Cryptovest Staff

Bitcoin broke above the $9,000 range and set to reconquer $10,000, as altcoins lagged behind.

Market Overview

Bitcoin (BTC) continued its recovery, avoiding a sell-off this week. The asset quickly broke above the $9,000 level, and later went on above the $9,700 mark, sparking hopes for a bigger rally.

Industry News

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Coin Performance

  • Bitcoin (BTC): Bitcoin (BTC) traded at $9,786.72 on Friday, once again revving up as the weekend approached. BTC is up more than 17% in the past week, still proving that upward volatility is possible.
  • Ethereum (ETH): Ethereum (ETH) was one of the big movers this week, following the announcement of Ethereum 2.0 getting a set date for its launch. ETH traded at $289.34, up 8% in a single day, and adding more than 12% to its price in the past week. ETH has received increasing USDT liquidity, and valuations of $300 are within a small distance.
  • Litecoin (LTC): Litecoin (LTC) spent most of last week in consolidation mode at around $135, and took off on Friday, along with BTC, to $138.09. The coin is up just 5% net this week, but promises a more significant rally as the halving of the block reward approaches.
  • Bitcoin Cash (BCH): Bitcoin Cash (BCH) inched up to $426.28, boosted by BTC trading.
  • EOS (EOS): EOS (EOS) broke out to $7.04, mostly on the BTC move, adding nearly 10% in the past week. The asset remains strong despite Weiss Ratings lowering its grade to B-.
  • Binance Coin (BNB): Binance Coin (BNB) continued with new records, reaching $37.72 on Friday. As the exchange increases its influence and volumes, BNB remains a central asset for multiple activities.
  • Bitcoin SV (BSV): Bitcoin SV (BSV) rose to $223.59, up 7.3% this week, as the asset gradually establishes its presence and valuations easily above $200.
  • Cardano (ADA): Cardano (ADA) remained at $0.089, despite the news of a testnet launch. The asset fails to attract high-level hype.
  • TRON (TRX): TRON (TRX) continued to hover around $0.033, despite the announcement of the update to Odyssey 3.6 version.
  • Monero (XMR): Monero (XMR) surprisingly exploded to $108.76, up more than 21% in the past week. The sudden spike in prices was seen as a response to the long-term stagnation and accumulation of coins.
  • Unus Sed Leo (LEO): Unus Sed Leo (LEO) is the surprising new arrival among top coins. The token, newly minted and native to the Bitfinex exchange, completed its price discovery and was finally listed on CoinMarketCap, promising to become a fixture among leading assets. LEO traded at $1.85