Choppy Trading Hounds Crypto Market Despite Bitcoin’s Rise

Nov 29, 2018 at 22:45

The entire crypto market lacked direction even as Bitcoin experienced a 3.84 percent growth to $4,289.60 apiece with a market cap of $74.4 billion.

According to crypto analyst David Puell, the premiere cryptocurrency could either reach its bottom by the end of December or within the first quarter of 2019.

“Since volatility has dramatically increased, it is pertinent to have a granular view of current volume node structure. Resistances have piled up, so any pullback must be closely watched for any sign of exhaustion. The $4,300 area is the center of mass,” he explained.

However, the growth did not able to lift other top coins as four of the top ten cryptocurrencies booked declines.

Bitcoin SV was the biggest loser among top coins with a 7.19 percent drop to $86.91 and a market cap of $1.6 billion.

Meanwhile, XRP, Bitcoin Cash and EOS dipped to $0.38, $177.80 and $2.98, respectively.

On the other hand, Cardano was the biggest gainer at 7.74 percent to $0.04 a piece and a market cap of $1.07 billion.

Ethereum, Stellar, Litecoin and Tether also rose to $118.80, $0.16, $34.23 and $0.99, respectively.