Cryptocurrency markets values tend to fluctuate every single day. Bitcoin will often dictate the pace of all other markets, bar a few exceptions. Some markets gain value, whereas others stagnate or slip into the red. Plus, there is always a dark horse to contend with.
Bitcoin Remains Flat
It is not uncommon to see the world’s leading cryptocurrency not budge all that much. In recent weeks, there has been a steep price decline, but things have finally quieted down. For today, Bitcoin is at a status quo, with very little room for upward potential.
That doesn’t mean there can’t be some brief momentum to take advantage of. Traders will always look for any opportunity they can profit from. Technical indicators show there is a lot of selling pressure on the market, which could hint at a potential reversal fairly soon. That said, Bitcoin recently jumped from $7,750 to $8,500 in quick succession. A rest period and perhaps a brief retrace seem more than warranted, based on that momentum.
The Loser of the Day: Energi
Not much is known about this peculiar altcoin. It has noted a very quiet growth since late 2018, and only recently set an all-time high value of $7.5 per coin. Ever since, the altcoin has been on a slippery downward hill. The past 24 hours result in a 14.3% loss across the board. Its current value of $2.59 may not hold steady for too long either.
Several factors hamper the growth of this cryptocurrency. It is not too well-known, and can’t be found on most major exchanges. The biggest trading platform is DigiFinex, followed by KuCoin. None of those platforms offer much trading volume or any appealing markets for NRG. It is likely this dip will continue for a little while longer.
The Gainer of the Day: Centrality
It has become pretty common to see random altcoins pump out of the blue. That is exactly what is happening to Centrality right now. Despite its low trading volume, the price has spiked by over 90% in one day. Completely abnormal trading behavior, which indicates this upward trend will come to a halt fairly quickly.
For a currency that is only traded on HitbTC, one has to wonder what its future potential may be. There are over 809 million CENNZ in circulation. The current value of $0.53 per coin might be as high as it can go in the weeks and months ahead. Rest assured this value will plummet again in the next few days.
The Cryptocurrency Dark Horse: Basic Attention Token
A lot has been said about Basic Attention Token so far. Despite a seemingly uphill battle, the project is firing on all cylinders. It has noted strong gains in the past few weeks and seems to continue that trend unabated. That in itself makes it a dark horse, as no one really knows where it will go next.
Disclaimer: This is not investment advice. This site and its team are not responsible for financial losses sustained by readers.