As we are seeing from over previous week time Bitcoin has been maintaining stability in its price and its position in the cryptocurrency market. But after maintaining firmness for a few weeks in the market virtual currency market is going downside, but as we can observe the largest cryptocurrency bitcoin is keeping its performance steady alongside suffering a bit of a loss. Can Bitcoin stay strong while the top Altcoins in the market are going down?
The virtual currency market is experiencing a 10% loss for some of the major altcoins after having a long term of steadiness and positive growth. But the positive thing is that the biggest cryptocurrency Bitcoin is holding it firm, even after losing a bit of its gain.
The bitcoin just loses 1% of its value in the market, while other cryptos such as EOS, Litecoin, Binance Coin, and Cardano are nearly losing up to 10% of their values in the market. And this situation of the other cryptocurrency and the market put questions on the steadiness of the Bitcoin in the market.
The virtual currency market saw some positive and green signal over the time of the past few weeks, and it was even called as the ‘cryptocurrency spring’, the market saw very less loss in the top cryptocurrencies values. The development was firm and positive, some of the people even predicted that the bear market is finished and it’s the time of bullish movements in the market.
The market hasn’t seen any kind of major losses in case of any cryptocurrencies in these few weeks. Even currently Bitcoin made increased value at $5,500 after hanging between the values of $5,200 to $5,300.
It is good for the cryptocurrencies enthusiast that Bitcoin is keeping its steady position mark of $5,500 in the market and it seems like that the cryptocurrency has enough resistance to keep its firm position up. The other altcoins always had a tendency of changing and hanging in the market values.
The cryptocurrencies enthusiast all predicted that the bearish movements of the market have gone with the establishments and growth of the past few weeks, the bearish market that has haunted the cryptocurrency market in 2018 is finally replaced with bullish movement. But with this downfall recently we can say that it is not really a bullish move yet.