Bitcoin’s surprising uptrend has triggered a cascade effect among other markets. Some of the top altcoins and assets find themselves in awkward positions. That is part of what makes cryptocurrencies so appealing. There’s good money to be made, but it can be lost equally as fast.
TRON Price Analysis
Whereas many people expect big things from TRON, the current market trend isn’t helping. There is a net 4% loss in USD value. Because of that deficit, the TRON price has dropped to US$0.016294. It is not the lowest value in recent months, but the overall downtrend still appears to be in place. That downtrend began a few months ago and shows no real signs of recovery.
In terms of TRX/BTC, things are not looking much better. The rise in value of Bitcoin causes altcoins to lose value in BTC. For TRON, there is a 7.65% deficit to overcome in this department. As the ratio plummeted below 200 Satoshi again, a lot of traders will feel uneasy this close to the weekend.
Ethereum Classic Price Analysis
The surprise of the day comes in the form of Ethereum Classic, or ETC. While a forked version of Ethereum, it has never amounted to any sort of “threat” in terms of market cap. Instead, it is one of those assets which tends to see volatile price fluctuations now and then. For traders, this means there are numerous ways to make money. The recent 7.2% increase in value pushes ETC back to US$5.
Interestingly enough, this altcoin also gains on Bitcoin. Although the 3% increase in ETC/BTC is lower than what some may expect, it is not a bad trend either. A push to 59,000 Satoshi seems well out of the question, but one never knows what the future may hold. Ethereum Classic also struggles to sustain an uptrend for more than a few days at most. It remains to be seen if this push will be different.
Basic Attention Token Price Analysis
The dark horse in this industry remains Basic Attention Token. It has become increasingly popular in recent months. Traders expect big things, although the uptrend will not materialize without setbacks. Despite promising momentum this week, the current trend isn’t too promising. A net 5% loss in USD value drops the price below $0.2 once again. Not entirely surprising, but still slightly worrisome for short-term holders.
BAT Isn’t doing well against Bitcoin and Ethereum either. The 8.68% and 8.21% losses against the respective currencies show the momentum has soured a bit. That is not necessarily a bad thing. Money flows to the top currencies first before trickling down to alternative markets. This seems to be a continuation of that trend. A lot of traders pocketed quick profits this week and have cashed out already.
Disclaimer: This is not investment advice. MNMMG Is not responsible for losses sustained by its readers.