Bitcoin Is Holding Ground at $10,000 While Altcoins See Red

By Sumedha Bose

It’s not looking too good for the major cryptocurrencies on the charts at the moment, however, Bitcoin has managed to emerge as an exception.

The most popular crypto has managed to climb above the $10,000 mark again, and seems to be holding its position. This is while most of the other cryptos are seeing red.

Market visualization courtesy of Coin360

Source: Coin360

If we look at BTC’s weekly chart, we notice a 2.68% increase in the price. This is after a pretty tumultuous past week for BTC, which witnessed some ups and downs.

Talking about the other cryptos, Ether has managed to maintain its position and is currently the largest altcoin according to market cap. However, according to Coin360, ETH has seen a dip in its value by about half a percent over the last 24 hours.

Next in line is Ripple, with a market cap of $13.1 billion at press time.

This past week has witnessed few eminent personalities come out in support of BTC. One of them is Raoul Pal, a former head of equities and equities derivatives at Goldman Sachs UK office and the founder of Global Macro Investors and Real Vision Group.

Raoul said that he believes ‘Bitcoin is worth betting on in the long term — even if it’s just a 1% chance’, as reported by Cointelegraph.

We are yet to see how BTC and the market in general will fare towards the end of the week.

Sumedha Bose

Sumedha uses words as her crutch to get by in life. She takes a keen interest in debating, dancing and destroying the patriarchy in her free time.

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