Bitcoin Remains Bullish

Many traders are noticing the decline in altcoins as Bitcoin remains bullish, recently climbing over $735 on some markets. Some of the top decliners include Ripple, Ether, DASH, Monero, and Augur, and others, while Litecoin and Waves remain steady.

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Monero hit a new low, after dropping 20% to 4.67 USD, where traders are scrambling to get their BTC supply up as prices continue to make gains with recent commercial interest and ongoing improvements to the Blockchain.

Here are some of the price spreads across the various markets:

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One of the reasons for the price increase may be due to the increased activity on the network, while it recently reached a new high over over 320,000 transactions, up from the average of 150,000 transactions per day. This suggests that there is more interest in the Bitcoin as a means of use, and may also be due to the recent adoption of the coins in South America, China, Russia, and the European Regions as a means to reduce exchange rate loss from the strengthening USD.

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5 Comments

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