CV Market Watch™: Weekly Crypto Trading Overview (October 25- November 1, 2019)
Bitcoin (BTC) recovered to above $9,000 in a spectacular Monday rally, stabilizing around $9,100.
Bitcoin (BTC) went through a booming weekend where it touched $10,000, later establishing a new stable level around $9,100.
Bitcoin (BTC) reached $9,153.51 mid-day on Friday. BTC reached a weekly high at $10,021.74 on October 26, and the drop was stemmed just above the $9,050 level after a rogue flash crash on November 1.
The share of Tether (USDT) expanded to above 76%, with BTC and USDT taking up 65% of all trading activity, and gaining all the traders’ attention. The BTC market cap dominance is around $67.4%, for now giving way to some of the more liquid altcoins that also preserve their value.
Ethereum (ETH) returned to $182.58, up around 10% in the past week, establishing a range of relative stability.
XRP (XRP) failed to budge ahead of the annual Swell conference, remaining around $0.29. The latest tranche of 1 billion XRP unlocked from escrow is also controlled in order not to crash the price, as Ripple has promised.
Bitcoin Cash (BCH) regained 27% this week to $279.31, though stalling ahead of the weekend. BTC forks had a noticeable outperformance this week.
Litecoin (LTC) added 14% to $58.44 this week, returning to its habitual range. The coin has lost around 60% of mining activity since August.
Binance Coin (BNB) recovered to $19.93, on news of growing volumes and listings on Binance.US.
EOS (EOS) stood at $3.27, compensating most of the losses from the recent sell-off.
Bitcoin SV (BSV) added another 10% net this week to $127.25, as the project heads for its first anniversary.
Stellar (XLM) boomed, as it also has its first community conference on November 4-5. The coin added nearly 15% since last week’s lows, to $0.069.
TRON (TRX) got a boost from the TRON-based USDT issuance and trading incentives, jumping to $0.019, up more than 27% this week.
Cardano (ADA) jumped to $0.41, adding 9% this week, boosted by the general market recovery.
Monero (XMR) jumped by 9% to $59.54, outpacing other assets. XMR remains range-bound ahead of its November hard fork.
Unus Sed Leo (LEO) is getting more active, growing by 4% on Friday, to $0.98. The asset attempts to stick to the $1 level, with skepticism about organic volumes and demand, as Bitfinex activity is slowing down in 2019.
Huobi Token (HT) recovered by 20% since last Friday’s lows, to $3.91, as exchange-based native coins remain one of the best performers.
Chainlink (LINK) stagnated at $2.27, down about 1.6% since last week, this time failing to perform another feat of appreciation.
IOTA (MIOTA) inched up to $0.27, keeping to its range on relatively lower volumes, as the coin has not crashed or pumped significantly for months.
NEO (NEO) is back among the top 15, growing to above $11 this week. The coin gained more than 50% after a small backtrack, to $10.53.
DASH (DASH) recovered to $71.25, up around 10% this week, as the coin continues on its track to attempt widespread adoption.
BTC found a new range of stability above $9,000, growing more than 20% since last week. BTC achieved one daily gain of 42%, later backtracking, showing that there is enough trading power to boost the coin’s positions. Altcoins still managed to perform, especially during last weekend, when Chinese traders returned to positions on long-forgotten assets like NEO, QTUM, Ontology (ONT), IOST, and others.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.