As an article earlier today noted “A lot hinges on what Bitcoin can do this week, as it is very close to once again crossing the $4,000 mark after doing so in late February. The major cryptocurrency is managing to hold above the $3,900 mark, which bodes well for its next step to crack the strong resistance.”
The last time bitcoin was over $4,000 it was only able to stay there for about 24 hours and then fell back towards $3,800. The article author, Jack Thomas argues that if BTC again breaks through the $4,000 level and manages to stay there for a longer period it could represent a surge up in the entire cryptocurrency market.
Strong coins among the top 20 cryptocoins other than bitcoin appear now able to influence the others. The current rally from Stellar may have enough power to help lift bitcoin as well as others to keep the total market rising.
Thomas argues that there is a positive sentiment creeping into the cryptomarket, and notes that several of the top 20 coins have had rallies in which they have managed to hold most of their gains unlike bitcoin. Litecoin managed to grow as much as a third in a 24 hour period this month. Binance has also done well.
Stellar is up 12 percent as Thomas was writing. The coin was adopted by the German media company Borsenmedien AG which bought the Stellar-powered startup SatoshiPay.
24 hours ago bitcoin was trading at $3,883 according to CoinDesk data. Since then it has had a high of just $3,918 but a low of $3,819. It has recovered a bit from the low at 14:25 Central Standard Time at $3849 or about $34 dollars less than its open a drop of a little below one percent. Perhaps this is just a consolidation before another rise but as of now there is no testing of the $4,000 level. The present price of bitcoin can be
Stellar (XLM) has managed a small gain at post time of just .66 percent at $0.10018. Litecoin (LTC) is down considerably nearly three percent at $54.36. Most coins are to the downside but some just marginally. The entire market appears a bit down but perhaps this is just temporary.