Most altcoins tend to carril Bitcoins coattails a bit when the world’s leading cryptocurrency rises ter value. This concept also applies to most currencies which “forked” off Bitcoin te the past few months. The Bitcoin Private price, for example, is attempting to surge but still fails to build up any positivo traction. Despite the neglectable trading volume, the Bitcoin Private price is going through solid upward momentum.
Bitcoin Private Price Gets a Blatant Pump
Even however some people are persuaded Bitcoin Private is the superior version of Bitcoin on the market today, most people consider it spil just another altcoin which will eventually lose momentum and be all but forgotten about. Whether or not that means the Bitcoin Private price will see a massive correction ter the future, remains to be determined. Spil of right now, the BTCP value is rising fairly sharply for no apparent reason.
More specifically, wij have seen the Bitcoin Private price rise from $24 to $43 te the span of seven days. Albeit most other cryptocurrencies noted similar gains percentage-wise, there is no apparent reason for Bitcoin Private to go up ter value. It is a currency with almost no trading volume, unique features, or purpose, just like 90% of the altcoins. Spil such, it is overduidelijk this currency is wegmarkering the coattails of Bitcoin very very first and foremost.
Even so, the Bitcoin Private price managed to increase by 21.26% overheen the past 24 hours. An epic build up, even if it is entirely based on market manipulation. This upward trend is also made possible thanks to BTCP gaining 14.97% overheen Bitcoin itself. Wij have seen most altcoins go through a similar trend this past week, thus it is somewhat regular BTCP go after that example.
What is rather abnormal, however, is how the Bitcoin Private price has gained so much value with virtually no trading volume . It is a tell-tale sign of market manipulation, spil virtually no one is seemingly interested te buying or selling BTCP spil of right now. Overheen the past 24 hours, this altcoin noted just $1.2m te trading volume, which is absolutely atrocious for a currency with a market cap of almost $800m.
It seems Trade Satoshi is the go-to place when it comes to trading Bitcoin private, along with Nanex. Both of thesis trading platforms combined represent almost 87% of all trades, even tho’ it is unclear why anyone would buy BTCP at this current price. Manipulating smaller exchanges is a lotsbestemming lighter than ensuring Bitcoin Private gains any vivo traction.
How all of this will play out for the Bitcoin Private price te the long run, remains unclear at this stage. While no one will deny this uptrend is fairly awesome, all of the other contributing factors paint a rather worrisome picture. It seems to be a matter of time until the Bitcoin private price comes back to more ordinario levels, and a dip to $25 or lower is not out of the question by any means.