Although bitcoin has advanced strongly in the past few weeks, its grip on the virtual currency market has somewhat weakened from almost 70% on Jan. 4 to nearly 61% as of this writing.
According to some analysts, one of the factors for the retreat is the impressive performance by altcoins, which has outmaneuvered the world’s most sought-after crypto in terms of gains in the past few weeks.
With altcoins on the crosshairs, here’s a quick peek at the charts of the five leading cryptocurrencies that may make headlines in the next few days.
Bitcoin hit a new record and approached the $50,000 mark on Sunday – sustaining a run that has sent the digital asset soaring nearly $20,000 so far this year, according to Bloomberg.
The crypto is still up around 4% since Sunday, building on its robust climb as Wall Street investors increasingly embrace the premier cryptocurrency. As the virtual asset registers new peaks, investors pour money into it, with consumer companies following suit.
BITCOIN CASH (BCH)
Also making positive noise over the weekend was Bitcoin Cash. BCH is up almost 23% Monday, giving the crypto a $704.47 market value — the highest it has been since June 2018.
Propelling the price higher has been an encouraging recommendation from Kim Dotcom, the founder of the now-defunct file-sharing site Megaupload.
The market is on a tear, and so are many of the altcoins. Although Monero (XMR) is no longer among the big-player altcoins, it’s been seeing a similar advance as its counterparts.
XMR was trading at $232.94 as of Monday. It breached above the $190 resistance on Feb. 12 and continued with the uptrend. XMR’s 20-day EMA (at $174) has made an ascent, and its relative strength index has shifted into the “overbought” zone, indicates the bulls are in control.
With gains of more than 70% in the last week, EOS placed itself among the biggest weekly advancers out of the top 20 coins in terms of market valuation.
Prices spiked by another 10% in the last 24 hours as EOS traded at its most impressive level in more than 12 months. The crypto extricated itself out of the long basing formation and begun a new uptrend when it climbed above the $3.95 overhead resistance on Feb. 9.
TEZOS USD (XTZ)
Tezos USD (XTZ-USD) is currently on a bearish pace. On Sunday, XTZ is at $4.95 and fell almost 12% in the last 24 hours. Over the last six hours, its higher value was $5.01, and the lower value was $4.89.
Over the last twelve hours, Tezos USD’s higher value was $5.01, and the lower value was $4.82. XTZ breached the previous all-time peak at $4.4936 on Feb. 12 and notched a new high at $5.6471 today.
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