A new week dawns upon the cryptocurrency industry. Plenty of markets show signs of movement in either direction. Bitcoin tries to recover from its dip below $8,000. Altcoins try to remain relevant, although not every market will do so without struggling.
A Rough Bitcoin Market
Bitcoin price watchers will be happy with the way things are going. The past few days saw massive Bitcoin price pressure. As a result, the value dipped below $8,000, albeit that seems to be a thing of the past. Following today’s 2% gain, one BTC is valued at $8,190 once again. Sustaining that level will remain difficult.
The interesting development of this weekend comes in the form of Chainlink. More specifically, the Chainlink price has risen strongly and continues that trend unabated. Even today, there is a 12.6% increase in value. It appears to be a matter of time until LINK surpasses an individual value of $2.5 per coin again. The currency has overtaken IOTA and Huobi Token in market cap value without too much resistance.
Two Thumbs Down for Centrality
A few days ago, Centrality was the strongest gainer in the market cap top 100. That brief success often comes at a steep price. Today, the CENNZ value showed plenty of weakness across the board. The result is a near 19% decline. Because of this setback, one CENNZ is now valued at just $0.076. Those who jumped on the bandwagon over the weekend may want to exit their positions before the situation worsens even further.
What is XRP up to?
It is always crucial to keep an eye on the big picture. That big picture currently indicates the XRP price shows strong momentum. Today’s 8.48% gain has not materialized out of thin air. In times of increased volatility, assets like Ripple’s often tend to gain some value. Even the rise in value of Bitcoin isn’t holding this uptrend back, by the look of things. It may very well be the dark horse for the remainder of the week if this trend remains in place.
Disclaimer: This is not investment advice. This site and its team are not responsible for financial losses sustained by readers.