Altcoins Go Green Even As Bitcoin Makes A Frail Comeback Attempt

By Rushali Shome

Just around 24 hours, we told you that the bears had purged the crypto market, mowing down about 11% but now it seems slow, yet steady recovery may just be on the cards. Major altcoins have been seeing green even as Bitcoin made a tiny move northward in an attempt to keep up.

We would not say that too many coins in the top 10 (of cryptocurrencies, ranked by Coinmarketcap.com as per market cap) have fared very well. However, several of the major, well-known altcoins within the top 20 range have begun to prove their mettle.

Since the beginning of this new year, the crypto opinion blogging zone and discussion threads have been flooded with questions around the future of altcoins. Many have held that altcoins indeed have a rather bright future this year, making 2019 the time when they finally find their redemption. In our article on the related issue, we have also posited the reasons why altcoins are likely to perform well this year. Now, it seems that prices are responding somewhat to positive opinions and conjecture within the market.

You May Also Read: What’s Next For Altcoins in 2019?

Now, Bitcoin itself has registered a meagre 0.76% rise at the time of writing and still remains under the $4000 price point. While writing this news, the price of Bitcoin is $3,706.26, well within the bearish sector. Out of the top 10, only Ripple and Tether have registered a rise aside from Bitcoin itself.

Ripple’s rise, at about 1.14% is low but not insignificant as it reinforces the ability of this unique crypto payment protocol to usher in a new era in the world of cryptocurrencies. Tether’s 0.40% rise is not enough to write home about yet but does provide interesting variety as a stablecoin in the midst of traditional crypto coins.

In the top 20 range, XEM and ETC have seen quite an interesting rise in prices, as has privacy coin ZCash. Ethereum Classic (ETC) despite having dealt with issues surrounding a 51% attack recently, has registered a nearly 4% rise.

XEM of the NEM platform has gone even higher at slightly over 4.5%. ZCash (ZEC) has also gone up by a little more than 4% while Binance Coin (BNB) has also shown an upward spike.

Other notable altcoins such as Dash, Monero, MIOTA, Cardano have shown signs of rising higher and faster than Bitcoin right now. Will we see altcoins capitalise on this rise and take it forward to a new high? The time and the market will tell.

Rushali Shome

Rushali Shome is a history undergraduate with a keen interest in puns, politics and beyond. When not typing away furiously in the “Notes” section of her phone, she can be found trying to catch the eye of servers at restaurants or weddings for a second helping.

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