On Monday bitcoin price trading was found low falling more than 1%. Crypto failed to overcome its short term resistance at $4000. The BTC/USD in the early afternoon on Monday was at $3,839,00 and was down by 1,5% on Sunday at 5 pm. In eastern time on the Kraken exchange, further crypto has slipped 2.7% from its high on Sunday by $3,950.
Analysts on Crypto
Mati Greenspan, a senior market analyst at e Toro, says “With bitcoin lagging while other crypto surges, the feeling is that the winter crypto is coming to close and now it’s an all season.”. Alt season is a term used when a smaller digital currency outperforms. Few analysts see this as a sign the border crypto market is basing, noting that during the crypto selloff beginning in late 2017, wherein altcoin is said to be underperforming. “At this point, none can guess how long this phase continues but there are signs to remain same. The global volume across crypto exchange is holding steady at around $30 billion dollars per day. Yet bitcoin volume is less than a third of that figure,” added Greenspan
According to data of CoinMarketCap, since Bitcoin bottomed on Dec 15, 2019, its share of the total value of all cryptocurrencies has fallen to 51.7% from 55.2%
Altcoin and Futures
On Monday altcoins drifted at its low. Ether ETH/USD fell 2.3% to $131,69. Litecoin LTC/USD dropped 3.2% to $54.46. Bitcoin cash BCH/USD was off 2.9% to $126.80 and XRP/USD was down 0.9% at 31 cents. On Monday Bitcoin futures ended at its low. The Cboe Global Market March contract XBTJ9 closed down 1.2% to $3,842,50, while the CME Group March contract BTCH9 fell 1.3% to 3,840.
Tweet of Coin Spectator – Real Time Crypto says “ Bitcoin skids 1% as $4000 resistance holds.” On Mar 11, 2019, at 6.31 pm which boosts the same read above.