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Author Topic: Bitcoin Price Briefly Hits $8,400 and Cardano Surges 11% as Market Recovers  (Read 164 times)


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Just this morning the 16th of April, 2018, the price of Bitcoin rose to $8,450 recording a huge buy volume across major cryptocurrency exchanges. As the first runner up performer of the day is Cardano which has risen by 11% and it is at $300 billion region.
Movement without Restrictions
Almost all cryptocurrencies have traded the path of bitcoin price amidst periods of extreme volatility. The most populous cryptocurrency in the market ended up as the best till date is Bitcoin thereby performing way better than other small market caps cryptocurrencies.
Investors now a days consider bitcoin as a harmless haven asset in global market which leads to high demands of bitcoin and bad performance altcoins. Note, Bitcoin has deepest market, highest liquidity and largest number of users.
The market is stable and recovering from independent movement and unwillingness of traders to match the price trend of bitcoin. Now, in the calls to start and acquire more small cap cryptocurrencies as well as Bitcoin and Ethereum investors and traders have become more ambitious.
Since January Bitcoin and Ethereum perform greater than small cap cryptocurrencies in the market. Allocation of investors and traders funds in assets that are highly volatile and risky when investors feel not sure about the future.
A day ago, the price of Cardano(ADA), rose by 12% against the USD and 13% against bitcoin. The price of South Korea's Ethereum called ICON(ICX) has put down great profit against USD and Bitcoin.
Trend of Bitcoin
A week ago, price of bitcoin skyrocketed to $8,000 coming from $6,900 within a 30 minute period of time. An unexpected rise in buy volume of Bitcoin occured. Within one week, the bitcoin price increased to $8,450.
Bitcoin is not oversold at the current rate this was proven by Two momentum oscillators( Williams Percent Range and the Relative Strength Index (RSI) ).
Bitcoin has recorded a minor drop over a day but traders are gong to recover from yesterday losses. Hopefully, Bitcoin will rise to $9,000 in the future.

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