Crypto Markets Oscillating: Top 20 Coins & Tokens Except For USDT

The price of coins and tokens take a bounce as Bitcoin price surges. The crypto market is looking cheery at trading enters the second day of the week in New York and steadies on past half of the day in Hong Kong. Trading opened yesterday on an optimistic note with prices breaking the lethargy of the past week.

Bitcoin price was already past the $6317 mark as midday trading of Sunday October 14, 2018. At the start of trading for Monday 15,2018, Bitcoin price hit the $6,900 mark at 9.am GMT.

The trending market price as at the time of this report was $6500 showing a price moderation. The same optimism has swept through the ranks of the Top 20 most capitalized coins and tokens except for USDT. USDT has battled some bad press this past week^[1] and it is yet to shake off the effect.

Ethereum has also witnessed a price rise with its marker quotes hanging above the $211 mark as at the time of this report. This crypto was still enjoying more than 5 percent price rise above yesterday’s trading.

On the other flank, XRP has risen more than 6 percent in 24 hours to trade at $0.448161 at the time of this report. In a sense, it is clear that the Bitcoin effect is a positive one for XRP. This is against the mood of a mixed press for the wave-making money transfer enabler.

Bitcoin Cash also has leapt by more than 4 percent in 24 hours to trade at $463.96. With more greenery on the price charts, it is a comforting start to the week as investors look for a way to reap gains.

EOS was trading at $5.44 as at the time of this report. The price rise was just short of the 4 percent mark to stand at 3.83 percent.

Stellar and Litecoin has also managed between 4 and 3 percent price rise so far today, and for the rest of the pack, it is a similar story of marginal rise in price.

Crypto analyst Joseph Young commented on Twitter today expressing concern about Bitcoin’s trading volumes, claiming they are “approaching yearly low once again” and adding “Decent short-term recovery earlier today (October 14) but low volume is really concerning.”

Market watchers are of the view that there will be a sustained price rise for tokens and coins in the lead up to the end of the year. Many people point at the experience last year which saw the spectacular rise in the price of cryptocurrencies.

The crypto commentator today retorted a recent Tweet from Roubini (a New York University professor) about Bitcoin transaction fees that claimed: “the cost per transaction of bitcoin is literally $60.” Young clarified for Roubini that “cost per transaction” is, in fact, different from “transaction fee.”

While the optimism of a rise in price for the pack can be justified, no one can be certain to the extent it might go. SEC’s looming decision on BTC ETF is expected in a few weeks^[2], and if it turns positive, a massive price spike in the market can be expected.

Till then, the waiting game continues.