Since there is no doubt that 2019 is perhaps the year of Bitcoin, as it seems almost unstoppable. Moreover, there are various other coins that are largely affected by the insane rise in Bitcoin prices.
As yesterday was Independence Day in the United States, the majority of analysts believe that BTC will undoubtedly touch the heights once again.
Speaking of which there have been some interesting statements made by the crypto analytics website, SFOX. It says that while in the midst of a bull market, holidays can literally spark the term FOMO.
It further said:
“At times when the market is already doing well or improving, holidays have the potential to drive renewed retail interest in buying bitcoin and other cryptocurrencies. That behavior, almost by definition, is FOMO: buying into an asset because one sees it trending upward and wants to benefit from it.”
A Brief Glance at Altcoins
Since its already well known that the enormous gains of Bitcoins have ultimately left the market a bit unstable.
As ETH is currently seen to be trading sideways at around $300.
Whereas Poloniex is planning to implement a not only a faster process for transactions as well as deposits but also the cheaper ones.
As far as Ripple is considered, the exchange is found to be trading almost sideways along with some minor losses.
Truth be told, XRP has actually been witnessing downtrend since its monthly highs on 22nd June as 26th June