Crypto prices are continuing to show upward movement across the market. Bitcoin (BTC) is hanging above the $9,300 price mark while Stellar took a moon shot with more than 20% gain.

During the large part of the day, Bitcoin was trading close to $9,400 price mark, however, in recent hours, it moved downwards.

BTC traded at an intraday high of around $9,465 before losing ground towards its current trading price of around $9,311.

‘Bitcoin Should Begin To Show Bullish Behavior’

Bitcoin statistician and commentator Willy Woo said that Bitcoin should begin to show bullish behavior after its dip to $8,600 largely due to filling in a gap in futures markets.

He says Bitcoin needs a monthly close above $14,000 to secure a long term bullish market. He added:

“Once we get a monthly close above $14k, we’ll be in the second phase of the bull market; a steady, lowish volatility, run in price. Should happen by the start of 2020, that’s the best time to deploy capital.”

Top 20 Coins Showed Mixed Results

Meanwhile, Stellar took a moonshot as the coin’s price rose up to 25% after the announcement was made that it completed a 50% token burn of its total supply. XLM, currently trading at a price of $0.084 per coin while reporting a massive gain of more than 20% on the day. It might signify that XLM might be able to trigger a new bull cycle.

ALSO READ :  NBA-China Scandal Crashes Nike Sneaker-Backed Crypto Token Price

Stellar took the lead as the biggest gainer of the day with the top 20 coins showing both green and red candlesticks.

Bitcoin SV (BSV) too took a big gain with up to more than 7% on the day. NEO took a loss of more than 2% on the day.

The overall cryptocurrency market cap currently sits at $252.5 billion, with Bitcoin making up 66.9% of the total.

Image: Shutterstock

Share This

Share This

Share this post with your friends!