In light of many ups and downs on the markets, one of the more bullish coins over the weekend was Elastos, which bounced between the $28 to $35 USD range, making speculators and arbitrage traders take greater interest in the coin.
After having a very successful ICO, the coin has been gaining momentum. The coin is not alone in its gains heading into Monday, as investors are regaining confidence in Bitcoin, Ether, and many of the other altcoins, as Bitcoin recently bumped back around the 7k price point.
The trade volume on Bitcoin is also much lower than previous months’ averages (currently trading around 4 Billion in daily volume) compared to previous volume highs of 16 Billion near the end of 2017….
The lower volume on BTC indicate that the markets are less volatile in some ways since the prices can rise or fall very rapidly when increased buy or sell volume occurs.
One of the problems with Elastos is that it currently only trades on a few exchanges, which makes it difficult for buyers to make any trades because they would have to create new accounts on new exchanges.
One of the advantages of larger coins like Bitcoin, Ether, Litecoin, etc, is that they are traded on a wide variety of exchanges, making it easier to buy and sell into different coins, as well as move money around.
Since we are just starting April, with one of the lowest price point in recent months, some investors are guess that BTC will regain value moving into Q2 and Q3.