[2019-05-31]Bitcoin and Top Altcoins See Losses as US Stock Market Sees Slight U

[Vladdirescu87]

Bitcoin and Top Altcoins See Losses as US Stock Market Sees Slight Uptrend

Friday, May 31 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) still holds over the $8,300 mark, with minor gains on the day.

Bitcoin is nearly 5% down on the day, trading at $8,320 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 3.7%.

Michael Novogratz, founder and CEO of cryptocurrency merchant bank Galaxy Digital, has said that he expects bitcoin to consolidate in the $7,000-$10,000 range.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $27.4 billion. The second-largest altcoin, XRP, has a market cap of $17.8 billion at press time.

CoinMarketCap data shows that ETH has seen virtually no movement over the last 24 hours. At press time, ETH is trading around $258. On the week, the coin has also seen its value increase over 2.7%.

https://cointelegraph.com/news/bitcoin-and-top-altcoins-see-losses-as-us-stock-market-sees-slight-uptrend

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[shamc]

This is going to be a very short lived drop in price. Anyone who feels like they have missed out on the bull run had better take this opportunity to buy now on this big dip

[Slow death]

 

cointelegraph has a lot of imagination

Michael Novogratz, founder and CEO of cryptocurrency merchant bank Galaxy Digital, has said that he expects bitcoin to consolidate in the $7,000-$10,000 range.

I wonder if this is not a prediction that anyone can do?

do not forget that this is the same guy who said this:

MAY 09, 2019

Galaxy Digital CEO Michael Novogratz: Bitcoin Should Cross $20,000 Within 18 Months

in 18 months we'll see if he hits.

and let's not forget that he had Net Loss of $ 272.7 Million for 2018

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $27.4 billion. The second-largest altcoin, XRP, has a market cap of $17.8 billion at press time.

ETH and XRP are in a position that will hardly be removed by other altcoins, just see that BCH only has 7B of Marketcap against 17 of XRP

[1Referee]

ETH and XRP are in a position that will hardly be removed by other altcoins, just see that BCH only has 7B of Marketcap against 17 of XRP

Even if there are coins gaining a bigger market cap than Ether in the future (technically speaking, XRP has a +$40 billion market cap based on its 100 billion circulating units), nothing comes even close to the development going on in that platform, and the fact that its network effect is incredibly strong. EOS raised $4 billion in funds and has not managed to attract even a tenth of the developers and activity that Ether currently enjoys.

Platforms as EOS and TRON are similar to wash trading exchanges, they thrive on manipulating volume and transactions.

[CryptoBry]

ETH and XRP are in a position that will hardly be removed by other altcoins, just see that BCH only has 7B of Marketcap against 17 of XRP

Even if there are coins gaining a bigger market cap than Ether in the future (technically speaking, XRP has a +$40 billion market cap based on its 100 billion circulating units), nothing comes even close to the development going on in that platform, and the fact that its network effect is incredibly strong. EOS raised $4 billion in funds and has not managed to attract even a tenth of the developers and activity that Ether currently enjoys. Platforms as EOS and TRON are similar to wash trading exchanges, they thrive on manipulating volume and transactions.

Sadly, this is quite true. Manipulations of data has become the accepted norm in our industry and if we really care on the truth then we should pressure these platforms to behave well though I am not really sure if they gonna listen as manipulation has been to their own business interest.

[Lucius]

A little mention about bitcoin and how some altcoins are standing with the addition of Novogratz wisdom and you have article worthy of Pulitzer Prize. The only thing missing is what Thomas Lee thinks this week about bitcoin.

Let's do ourselves a favor and avoid the articles from cointelegraph&coindol.