Bitcoin has been showing a slight decline over the past 24 hours, trading around $ 62,800. Investors took a break in buying the first cryptocurrency in anticipation of new triggers, not daring to take the semicircular level of $ 65K outright.
Over the week, Bitcoin demonstrates growth of more than 8%, while other cryptocurrencies from the TOP-10 show significantly more significant strengthening. Ethereum (ETH) jumped 20% in a week, but none of the leading cryptocurrencies can catch up with the Dogecoin (DOGE) meme coin, which has added 95% in the last 24 hours and 330% in a week.
Apparently, such price dynamics is a reflection of retail demand from non-professional investors who are psychologically comfortable buying a well-known publicized cryptocurrency worth several tens of cents.
Unfortunately, such a dynamics of the cryptocurrency-joke with the anemic dynamics of Bitcoin is an alarming sign for the entire market as a whole, as it indicates that at this stage, after the successful direct listing of Coinbase, everyone who wanted to buy BTC has already bought it. Altcoins in general continue to grow due to inertial movement, but if buyers do not return to Bitcoin soon, we may again see a fight for the threshold of $ 60K and below, which will ultimately have a much more negative impact on all altcoins.
Market forecasts, analytics and stock news