Market Analysis

BTC price hits 6,750 USD; ETH might move head in the direction of 300 USD level

BTC price hits 6,750 USD; ETH might move head in the direction of 300 USD level
Sep 28, 2018 by Rico Wise

Over the last day, subsequent to a confident upward movement performed by BTC, going from 6,400 USD to 6,750 USD, the digital currency market has displayed a major bounce back. ADA and LTC are the two most successful dominant digital currencies over the last 24 hours, accounting for 10% gains each.

It took only 10 hours for Cardano to grow from 0.078 USD to 0.0876 USD, growing by a little over 12%. Despite the fact that the majority of digital currencies has experienced retracing subsequent to a weekly high positions, the cryptomarket still managed to bounce back once more.

ETH, previously overtaken twice by the XRP currency over the last week, has cemented its place as the 2nd most dominant digital currency, increasing the gap between itself and the Ripple currency to 2 billion US dollars with a 7% price growth.

For nearly two months, Ethereum has displayed insufficient momentum with rising pressure to sell, most possibly because of financiers’ fears that the ICO startups would abandon Ethereum on the cryptoexchange market in the following months. The said startups are reported to hold more than 38% of their Ethereum holdings safe in treasury.

According to experts, Ethereum will probably stay under pressure for some months, taking into account how much ETH currency is being held by the ICO projects.

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