Crypto prices are continuing to show upward movement across the market. Bitcoin (BTC) is hanging above the $9,300 price mark while Stellar took a moon shot with more than 20% gain.
During the large part of the day, Bitcoin was trading close to $9,400 price mark, however, in recent hours, it moved downwards.
BTC traded at an intraday high of around $9,465 before losing ground towards its current trading price of around $9,311.
‘Bitcoin Should Begin To Show Bullish Behavior’
Bitcoin statistician and commentator Willy Woo said that Bitcoin should begin to show bullish behavior after its dip to $8,600 largely due to filling in a gap in futures markets.
He says Bitcoin needs a monthly close above $14,000 to secure a long term bullish market. He added:
“Once we get a monthly close above $14k, we’ll be in the second phase of the bull market; a steady, lowish volatility, run in price. Should happen by the start of 2020, that’s the best time to deploy capital.”
Top 20 Coins Showed Mixed Results
Meanwhile, Stellar took a moonshot as the coin’s price rose up to 25% after the announcement was made that it completed a 50% token burn of its total supply. XLM, currently trading at a price of $0.084 per coin while reporting a massive gain of more than 20% on the day. It might signify that XLM might be able to trigger a new bull cycle.
Stellar took the lead as the biggest gainer of the day with the top 20 coins showing both green and red candlesticks.
Bitcoin SV (BSV) too took a big gain with up to more than 7% on the day. NEO took a loss of more than 2% on the day.
The overall cryptocurrency market cap currently sits at $252.5 billion, with Bitcoin making up 66.9% of the total.
Source: Coin360.com Image: Shutterstock
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