Daily crypto: Bitcoin is stabilizing – but may be oversold

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2018-09-16 14:34

Christian Ploog

christian.ploog@trijo.co

It appears that the bitcoin price is stabilizing.

The cryptocurrency markets have been quite calm during the last 24 hours. The price of the biggest cryptocurrency bitcoin (–0,25%) has only moved a few tenths and was traded at around $6,500 on Sunday afternoon (CEST).

However, some analysts are positive and mean that bitcoin is currently oversold. It also seems that the bitcoin price is stabilizing, which is important if the cryptocurrency wants to start a rally before the end of the year. It is also during this period, up to the turn of the year, that many experts believe that new money will flow into the crypto market when institutional investors step in, according to CCN.

The cryptocurrency among the biggest ones that increased the most during the last 24 hours was ethereum (+1,03%). The currencies on top 100 that performed the best were aurora (+14,64%) and bitshares (+6,45%), and the ones that performed the worst were rchain (–9,25%) and nano (–6,73%).