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On Saturday afternoon, the cryptocurrency market saw a new wave of money. All tokens are showing green candlesticks, with TenX, Loopring and Augur leading the new wave. Even the major cryptocurrencies like Bitcoin, Ethereum, XRP and Litecoin are seen in the green zone after a week of downtrend.
Among the top 10 cryptocurrencies, Litecoin is leading the race by increasing 5%. Bitcoin and Ethereum have increased almost the same way with an increase of 2.4-2.6%.
In terms of overall market valuation, $ 3 billion has been added to the cryptocurrency markets. Currently, the cryptocurrency market has a valuation of $ 125 billion.
The pattern of the markets' past follows a typical trend – suddenly shoots upwards to $ 131-133 billion, stabilize for a few days and suddenly break down to $ 121 – $ 122 billion in the range, and this trend looks similar. Many investors and traders believe that an unknown whale (or group of whales) is manipulating the market.
Bitcoin is struggling to break the $ 4,175 resistance mark. If the Bitcoin exceeds $ 4,500, many analysts believe it could trigger a potential upside to which Bitcoin could potentially touch $ 5,500. But according to many influences, Bitcoin has not yet reached the bottom. Interestingly, most of these "influencers" predicted an error about 95% of the time.
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