Cryptomarket experiences extreme volatility again

Cryptomarket experiences extreme volatility again
Jul 22, 2018 by Rico Wise

The digital currency market has experienced some extreme fluctuations over the last day, mainly influencing lesser altcoins and currencies, which is attributed to the volume decrease seen last week.

Yesterday, BTC price has taken as little as ten minutes to gain 200 more USD, with a sudden demand increasing on such leading cryptoexchanges as Binance and Bitfinex.

Nevertheless, right after the surge, BTC price has lost 300 USD as quickly, taking other major cryptocurrencies and altoins down with it.

After that, BTC price has shown many fluctuating movements in the area of 7,400 USD. However, the trading volume of Bitcoin was lower in comparison to the previous week, shrinking by billions of US dollars in the past two days.

After the big surge seen by the cryptocommunity on July 19, the BTC price had difficulties to commence any significant movement upwards, which has probably happened due to insufficient momentum in the cryptoexchange market. ETH, BCH, XRP have all shown poor dynamics against both BTC and USD.

Market’s fluctuations can endanger both the leading digital currency and its other known contenders, subjecting them to decline, making it still possible for BTC price predictions on the dropdown to the 5,500-6,000 USD levels to come true.

As of now, the market shows generally optimistic demeanor, most probably because of the progress BTC has seen in the beginning of the week, but other leading digital currencies and altcoins did not manage to perform nearly as well against USD.