Bitcoin Price Chillout Gets Traders Moongazing As Market Cap Flirts With $150 bln
The end of the week provides pause for breath in Bitcoin markets as prices hover around $4,400 without a breakout.
Bitcoin was struggling to stay above $4,400 Friday as cryptocurrency’s market up approaches $150 bln for the fourth time.
Value has continued to return to crypto markets since last month, with the industry’s overall market cap gearing up to tackle $150 bln after dipping as low as $113 bln in September.
Despite Bitcoin’s sluggish performance in line with Cointelegraph’s Thursday price predictions, altcoins have meanwhile witnessed continued growth in the second half of the week.
The market’s surprise episode came in the form of new altcoin eBTC, a confusing attempt to unite Bitcoin with Ethereum which debuted Monday at $0.03 and by Friday morning had shot up 2,500 percent to top $0.80.
Lacking both a whitepaper and accompanying technical documentation, as of press time prices had plummeted due to exchange sell-offs, dipping to $0.30.
In more stable circles, meanwhile, the lack of major movement had trader-commentators thinking further into the future.