Cryptocurrency Markets Continues Sideways Trading as Bitcoin, Altcoins Shun Volatility

Photo Credit: Cnet

There has been very little activities in the cryptocurrency markets as bitcoin volatility was reported to have reached its all-time low with majority of the altcoins remaining stagnant or seeing little movement as at Friday.

According to data from Coin360 tracker, the recent lack of movement in the cryptocurrency markets has greatly disturbed short term speculators, nonetheless, analysts are delighted as they have begun hailing a new era of Bitcoin stability.

On Friday, Bloomberg together with other big shots highlighted Bitcoins lack of volatility even as the top cryptocurrency by market cap is said to have attain its lowest volatility in over eighteen months. According to commentators, the lack of volatility currently been experienced is only an indication that Bitcoin is nearing its bottom.

Similarly, the head of a fund management company noted that the current bear market been experienced in the cryptocurrency markets will soon fade away, giving rise to a new bullish momentum that may soon kick off.

That sentiment was further corroborated by Tom Lee, a savvy Advisor at Fundstrat Global Advisors earlier in the week, where he made his position about the current happenings in the cryptocurrency markets known.

As at the time of writing this post, BTC/USD pair was trading at $6,480 with the leading cryptocurrency remaining quite stagnant since the close of last week.

Among the altcoins, the second leading cryptocurrency, Ethereum (ETH) has equally been recording only a minute percent change in the last 24 hours.

Having postponed its planned hard fork nicknamed Constantinople, attention has largely shifted away from the second leading cryptocurrency as the planned hard fork faced a number of setbacks.

At the moment, Ethereum is currently exchanging for $203 and down by 4.5 percent in the last 24 hours with month losses capped at 8 percent.

A look at the top twenty altcoin assets reveals that there are no anomalies to the sideways trading been experienced. In fact, majority of  the top twenty cryptocurrency have been seeing only a 1 percent change in their position in the last 24 hours.