After yesterday's close,
most alt coin candlesticks closed as bears after sustained USD bull pressure.
Not exact matches
Bitcoin is the biggest and
most famous digital currency, but it's hardly the only one: There are hundreds of other so - called «
alt coins» and now, in a significant development, the owners of these
coins will be able to spend them at a major retailer.
«I got held up in the
alt -
coins frenzy,» he wrote, referring to choice digital
coins like litecoin or ethereum, «and sole
most of my bitcoins (about $ 120k worth) to buy a garland of different
coins.»
Though an important
alt coin from 2014 did stick around and drove the
most recent boom to new heights by being the platform to power all the others: Ethereum.
Thursday saw a major but short lived correction in Bitcoin's sudden rise to $ 1100 and once the price dropped below $ 10,000 people started dumping
alt -
coins bringing down the price of
most major altcoins.
The next 10 days could see some of the capital flowing back into altcoins as people start slowly accumulating before the fork but for the
most part
alt -
coins are expected to see major recovery only after the fork after people have acquired the free Segwit2x
coins which is currently trading as futures on Bitfinex at 2X / BTC = 0.17; 1X / BTC = 0.83 of the value of Bitcoin.
It seems that in the medium to long term,
alt -
coins stand to gain the
most from Bitcoin's inefficacies as there are solid DAG
coins like IOTA and RaiBlocks which have instant fee-less transactions.
Bitcoin's recent rally beyond $ 8,000 has been benefiting
alt coins, as
most of them experienced price surges last week, notably Monero and DASH.
BITCF chose USDT as a medium of exchange for speculators to acquire
ALT since it is the
most actively traded Omni asset with tens of millions of
coins in daily volume, trading in 11 currencies on Poloniex cryptocurrency exchange, as well as many other exchanges such as CoinQX and OMNIDEX exchanges.