December 27: Bitcoin (BTC) remains stable while the main altcoin markets are showing signs of a new downward trend, led by Bitcoin Cash (BCH).
Market display from Coin360
Cointelegraph and Coin360 price tracker data showed a score of mixed assets but far quieter by market capitalization than last week's volatile assets.
BTC / USD, which had earned over $ 1,000 to reach mid-week highs around $ 4,230 on December 23rd, has since started a reversal, swinging around $ 3,800 from Christmas Eve while trading in a tight corridor.
At the time of the press, the pair traded around $ 3,806 and fell just a fraction of a percent, remaining unmoved by the separate volatility in traditional equity markets.
Bitcoin 7-day price chart. Source: Cointelegraph bitcoin price index
Cryptocurrency commentators have tried to unmask the myth that Bitcoin is a related resource as stocks recorded their worst Christmas Eve on disk, only to stage the biggest gains of a day in history on December 26th.
"I absolutely agree that there are some psychological components at stake when the stock market lowers," Morgan Creek founder Digital Assets, Anthony Pompliano, told CNBC the same day.
Pompliano also warned that Bitcoin is due to a more significant shift, which could bring it below $ 3,000.
In the high-end markets, it was BCH that drove the daily losses, with a 4 percent drop on the day the press came.
Reaching over $ 200 from $ 75 previously, BCH / USD is back to $ 165. Bitcoin SV (BSV) controversy – formed in a recent Bitcoin Cash hard fork – continues to abound on social media.
Chart of prices in 7 days of Bitcoin Cash. Source: Cointelegraph Bitcoin Cash Prices Index
Other larger moves down on December 27 include Monero (XMR) at 3.4 percent and the second largest altar Ethereum (ETH), at 3.1 percent.
ETH / USD also posted significant gains over the last few days, peaking at $ 160 before falling to $ 127. The pair's lows a week earlier had reached $ 83.
Ethereum 7-day price table. Source: Cointelegraph Ethereum Price Index
One of the top 20 coins in the green, Ethereum Classic (ETC) is up nearly 6 percent on the day it is printed. The currency, ranked 17th by market capitalization, is currently trading at $ 5.21.
The total market capitalization of all cryptocurrencies is about $ 127 billion at the time of printing, down from $ 147 billion on December 24th.