BTC Drops Under 20k While Chainlink Goes North of $7
As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.
Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase
Whenever it comes to investment asset volatility, crypto, especially altcoins like Chainlink (LINK), is at the forefront. While an uptrend is very important for day traders, compounding long-term investments can benefit from a dip.
The prices of most of the tokens in the cryptocurrency market rose somewhat over the weekend. Even though last week wasn’t good, this week might be better.
A general 24-hour survey of most altcoins reveals that last Sunday was marked by a commendable pattern. Most of the tokens showed significant progress in the uptrend. Among other altcoins, Chainlink (LINK) featured prominently.
However, when it comes to mainstream cryptocurrency, the situation is very different. Bitcoin (BTC) stopped flat over the weekend after reaching the $19,000 range.
Positive changes were seen in the cryptocurrency market, especially with the rise in altcoin prices. In summary, the general market value has stagnated without falling further. The capital is now about 950 billion dollars.
The original cryptocurrency takes the lead as the most powerful alternative coin. During the first hours of current trading, the token gained more than 5% and hovered around the $8 mark. Ethereum (ETH) is slowly recovering from its 20% decline in mergers. As soon as the price of Ethereum (ETH) crossed the $1,300 mark, it started to rise.
The prices of other altcoins rose. These are the slightly rising Shiba Inu (SHIB) and Solana (SOL). Nevertheless, despite the latest Vasil Upgrade introduction, the price of Cardano (ADA) remained in a certain range. Ripple (XRP), Polkadot (DOT), Binance Coin (BNB), Tron (TRX), Dogecoin (DOGE), Polygon (MATIC) and Avalanche (AVAX) are among the cryptocurrency assets that have experienced modest declines.
The development of the flagship cryptocurrency has not been quite top during the past week. However, it is worth noting that Bitcoin (BTC) experienced a surge ahead of the US Federal Reserve rate hike. The coin went from $18,300 to nearly $20,000 after the rally. However, its durability was fleeting. Bitcoin (BTC) price fell dramatically following news of a 75 bps interest rate hike. The main cryptocurrency fell by around $2,000 in the hours following the news.
Bitcoin (BTC) fell to $18,100, a new 3-month low. As panic selling grew, the cryptocurrency market plunged into a new crisis. However, after a couple of days, the value of Bitcoin (BTC) slowly started to recover and fell to the $19,000 mark. Then, during the September 25-26 session, Bitcoin (BTC) peaked at $19,500 as the market saw more bulls.