Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: AMANPURI OFFICIAL INDONESIA on May 17, 2019, 12:53:14 AM
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https://ethereumworldnews.com/wp-content/uploads/2018/12/Ethereum-Price.jpg
For the third day in a row crypto markets have hit a new 2019 high in terms of market capitalization. This time Ethereum is in the driving seat as it surges 20 percent in a day. Will the other altcoins follow suit when Bitcoin corrects?
BTC Correction Inevitable
Markets always pull back; we have seen it countless times over the past few years. The Bitcoin parabola cannot continue and a correction is inevitable. However, a few hours ago during Asian trading Bitcoin hit another new high for the year at $8,300. This is its highest level for a year aside from a brief spike in July 2018. It has since retraced back to $8,000 where things are holding for the time being.
Ethereum is getting the FOMO today as it pumps a whopping 20%. From an intraday low of $225 ETH surged to $270 before pulling back slightly. This is the highest price Ethereum has seen since August 2018. Daily volume is currently at record levels of over $15 billion which is higher than it was during the 2017 bull run.
Comparatively, however, ETH prices are still on the floor and down over 80 percent from its all-time high above $1,400. Bitcoin has now recovered to a 60 percent drop from its peak of $20k in 2017. As traders take profits from Bitcoin’s recent rally they are likely to look towards lower priced altcoins rather than converting back into fiat.
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Altcoins To The Moon
This appears to be what is happening at the moment as altcoins start surging, led by Ethereum. Stellar is a train at the moment, surging over 30 percent today to reach an intraday high of $0.157. XLM has not been at these lofty heights since before the big November dump. As a result it is poised to knock Tether off eighth spot in terms of market cap.
Bitcoin Cash, Litecoin, EOS, Binance Coin, Cardano, Tron, Bitcoin SV and IOTA have all pumped a further 7 percent today as altcoins lift off. Ethereum Classic is shadowing its big brother with a 15 percent surge and NEM has gone to the moon adding 35 percent on the day.
source: https://ethereumworldnews.com/ethereum-surges-20-will-altcoins-pump-when-bitcoin-corrects/