Bitcoin, Ethereum, and Major Altcoin Analysis February 27thFeb 27, 2018, 8:23PM
Most cryptocurrencies showing an upswing today led by NEO at 20%. Bitcoin and BitcoinCash is showing volatility, Ethereum showing more stability.
The total cryptocurrency market is now worth approximately $464 billion following an overnight rally in several major assets. Out of the 10 largest cryptocurrencies, NEO leads the pack with a 20% surge in just 24 hours. Bitcoin and Bitcoin Cash are up 12% and 11% respectively, and Bitcoin dominance rests at just under 40% of the market.
Bitcoin and Bitcoin Cash
2/27/2018 sees Bitcoin bounce back from a weeklong decline that saw prices drop from a recent high of approximately $11,700 to $9,500. Bitcoin now sits at a little under $10,800 per coin, but technical investors may want to wait and see if momentum pushes prices past the $12,000 mark before considering a long position.
Bitcoin cash displays similar price action, with prices bouncing back from recent lows and showing a promising surge in momentum. Trade volume in both assets remains healthy.
Ethereum prices have recovered from recent lows and now sit close to the important psychological level of $900. Nevertheless, while Ethereum prices have been on a positive trajectory since 2/24/2018, volatility remains low relative to Bitcoin and the other major assets. The single-digit movement is lackluster compared to today's double-digit surge in several other coins.
The altcoin sector has seen some explosive positive moves, with several little-known assets surging in value. Today's biggest gainer is an asset called EA Coin which more than doubled in value after months of consistent decline. Better-known assets like Ripple and NEO have also performed positively with rallies of around 4% and 20%, respectively.
Litecoin is the only major coin to start 2/27/2018 in the red - down almost 2% at the time of writing.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.