In the wake of some of the highest prices in Bitcoin’s history is the recent downturn in price at the mid-month point, where trader’s are seeing a sharp decline in some of the top altcoins.
Inversely, coins with high supply such as Verge, DigiByte, Reddcoin, and ByteCoin are making gains again. Prior to the Bitcoin Cash fork Verge, DigiByte, Reddcoin, and ByteCoin made large gains, and then experienced a large sell-off as traders began to hedge back into the Bitcoin currency in order to get a matched amount of Bitcoin Cash. Now that investors have made their Bitcoin Cash, as well as their profits from the high-priced Bitcoin, it is clearly evident that the high supply coins are being pumped.
HEre are some of the latest prices, along with gains:
90 ReddCoin ReddCoin $36,884,759 $0.001290 28,586,409,800 RDD * $5,196,200 55.06%
46 DigiByte DigiByte $139,125,099 $0.015914 8,742,253,657 DGB $17,372,100 41.77%
27 Siacoin Siacoin $229,848,336 $0.008034 28,611,232,419 SC $19,583,600 25.18%
92 Verge Verge $35,652,300 $0.002659 13,409,472,280 XVG $4,338,050 24.04%
23 Bytecoin Bytecoin $269,922,128 $0.001473 183,242,790,974 BCN $2,546,480 15.47%
At the top of the list is ReddCoin, which gained over 55% on the days’ trades.
In Other News
Bitcoin reached a high of $4450.55 before coming back down, and dropping below the $4000 USD price point, where it continues to act bearish in a downswing.
Bitcoin Cash continues to remain around the $300 price range, but since the price of Bitcoin is moving so quickly, it is hard to gauge how these two coins will interact, and some see the price of Bitcoin moving up.