Bitcoin has been exhibiting consistent price growth in the past few days, bidding farewell to $9,000 support level. BTC is on the course to test $10,000 resistance, a level that seemed impossible some months ago. Crypto market capitalisation has also attained a new high, as Ethereum (ETH), Ripple XRP and Litecoin (LTC) join Bitcoin’s surging trend.
It took Bitcoin (BTC) a couple of days to break further beyond $9,000 resistance level. However, BTC is now experiencing a steady growth, taking its surging course beyond $9,300 that seemed so difficult to break earlier.
The parabolic price movement of Bitcoin has greatly impacted the growth of other cryptocurrencies such as Ethereum (ETH), Ripple XRP, Litecoin (LTC) and others. This shows that the dominance of BTC is beginning to play a big part in the price fluctuation of the digital assets in the market, unlike a week ago, when the digital currency surged alone.
Ethereum (ETH) in the Market
Ethereum (ETH) has been the digital currency that has conformed well with Bitcoin’s surging strength lately, and it has indeed benefited from the conformity. ETH now trades relatively at $289, with a positive 24 hours price on the table.
Ripple XRP in the Market
Ripple XRP has consistently failed to maintain a firmstability above $0.45 resistance level. The digital currency tested 45 Cent after the announcement of its partnership with the globally known remittance company, MoneyGram.
Despite the big deal, Ripple XRP couldn’t maintain a float above $0.45 price. Since the start of 2019, the XRP’s market price has not made any notable move to close rank with its All Time High recorded in 2017.
However, Ripple XRP has also been reacting well to the surging trend of Bitcoin, which would indeed be a big benefit for the digital currency.
An analyst earlier deduced that the bottoming process XRP is experiencing at the moment is a resemblance of the one experienced by Bitcoin between 2014 and 2015, which preceded a distinct price surge that resulted in recording its price hallmark in 2017. He said it will be profitable for XRP if it replicates the trend.
Litecoin (LTC) in the Market
Litecoin (LTC) price was surging magnificently a couple of days ago without bending to the sovereignty of Bitcoin (BTC). The soaring moment propelled it to test $150, which made crypto analysts to envisage on how long it would sustain the parabolic movement.
However, Litecoin afterwards dropped its tempo, and it has begun to blend gradually with Bitcoin’s price trend, unlike Ethereum (ETH) that looks completely tangled with BTC’s price uptrend and downtrend. At press time, LTC is trading at $137.44, with 2.16% 24H price increase.
Bitcoin (BTC) in the Market
The surging trend of Bitcoin (BTC) is generally aiding the cryptocurrency ecosystem. The market capitalization of the entire ecosystem has just surpassed $300 Billion, its 2019 high, thanks to BTC’s price rally, coupled with the growth of numerous altcoins in the market.
Bitcoin is currently on the course of breaking $10,000 resistance. If BTC’s price consistency remains, it won’t take long before it surpasses the resistance level.
At the time of filing this report, Bitcoin is trading at $9,873, with 7.7 percent price soar in the last 24 hours. Conclusively, all top 10 cryptocurrencies are faring well in the market, as BTC leads on the journey to break higher resistance levels.