Volatility return in sight for Bitcoin, Altcoins on fire
Julien Moretto – 8 Jul 2020
What a contrast in the crypto market in recent weeks. While the evolution of the prices of the most capitalized assets is very discreet, a certain number of altcoins, and in particular those related to decentralized finance, are on a very bullish trend. Bitcoin posted €8,400 ($9,400) on July 8, a slight increase of 2% over a week. While Altcoins such as Cardano (ADA) and VeChain (VET) are up 53% and 141% respectively! Is this trend sustainable? Are we on our way to a season of altcoins this summer? What will happen if Bitcoin corrects strongly? We address all these questions in our analysis.
- According to CoinGecko, market capitalization is rebounding to $277 billion from $264 billion seven days ago.
- Bitcoin’s dominance drops significantly to below 62% this week.
- the best performance of the top 50 is signed by VeChain(VET) with +112% over the week.
- A recently filed patent on VISA describes the creation and use of a digital dollar on the Ethereum blockchain.
We invite you to discover our full analysis in video (recorded on july 7, in french)
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