Bitcoin Enters Sixth Day of Stability as Analysts Predict Mixed Mood in Asian Markets
Cryptocurrencies have reassured investors over the last week, with Bitcoin dictating a calmer mood across major assets.
Market visualization from Coin360
Data from Coin360 and CoinMarketCap confirmed the continuing stability for Bitcoin and many major altcoins on Monday, with BTC/USD down around 0.15 percent to trade around $3,900.
The area just below the $4,000 price point has proven attractive for Bitcoin for the past five days, ever since it entered from trading closer to $3,700.
As Cointelegraph reported, cracking $4,000 has proven too difficult a test in recent times, with an earlier brief spell above those levels resulting in a climbdown which took Bitcoin nearer to $3,500.
Bitcoin 7-day price chart. Source: CoinMarketCap
In what remains common practice, most altcoins that make up the top twenty cryptocurrencies by market cap repeated Bitcoin’s stability.
Ethereum (ETH), the largest altcoin, lost around 1 percent in the 24 hours to press time, still trading around $135, which it has done since March 5.
Stellar continues to stake its presence in the cryptocurrency consumer industry, late last year sealing a $125 million deal with wallet provider Blockchain, which will see its users receive an airdrop of XLM.
Stellar 7-day price chart. Source: CoinMarketCap
Further down CoinMarketCap’s table, Tezos (XTZ) also put in a strong performance, rising around 11 percent.
As CNBC summarized, the Shanghai composite was nonetheless up just under 2 percent Monday, while the Shenzhen composite managed just under 4 percent.
U.S. markets were yet to open the week’s trading at press time.