Market kick off Monday with mixed price action, BTC over $5,300 again

29 Apr, 2019
Analysis
Market kick off Monday with mixed price action, BTC over $5,300 again

Monday, which is typically known as being bloody Monday due to prices often seeing red on the day after the weekend, appeared to be mixed as majority of the major cryptocurrencies saw slight gains or losses on the day.

Bitcoin managed to climb back over $3,500 following last weeks Tether/Bitfinex fraud scandal. BTC prices currently fluctuate depending on crypto exchanges, with Tether backed Bitfinex seeing a $200 premium being traded on the exchange and a $0.03 premium traded on the USDT/USD pair.

Chart provided by Tradingview 

The top 10 saw BCH as the biggest loser with 3.45% down on Monday, while the biggest gainer was XRP, up 0.72%. Overall the marker remained steady with no major declines or gains in prices on the day. Most of the top 100 range between just being green or red. 

Overall market cap remains above $171 billion while trading volume had dropped below $40 billion. Bitcoins dominance according to CoinMarketCap continues to range just under 55%. 

All eyes will be on the Tether/Bitfinex this week to see if that plays any further role in the price and action of the entire market following last weeks decline in price, which most trader believed was caused by the FUD surrounding Tethers inability to be backed by 1:1 USD after losing $850m. 

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Chepicap is now LIVE in Blockfolio! This is how you receive our latest news in your portfolio tracker!  

Read more about: Bitcoin (BTC)

Poll

Do you think the whale moves have to do with the latest Tether FUD?

(22 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage