The Bitcoin saw itself stay above the $7000 mark despite major altcoins feeling the downward pressure from the volatility over the weekend. Market Cap remained above $220 billion but saw a shrinkage of almost $3 billion. There is still a strong interest in the market but it did slow down over the weekend.
Interest Strong but Waned Slightly Over the Weekend
The Bitcoin remained relatively unchanged but there is still some sign of slowing interest among investors of Crypto coins. The trading volume of the crypto market for the day hit $83 billion, a healthy amount, but well short of recent highs of $94 Billion. Another sign of cautious investors is the narrowing of the market capitalization from $224 Billion down to $221 billion. The bitcoin had a $26.7 billion trading volume in the past 24 hours.
Hinting of Correction for the Near Future
The slow down of rise is hinting at a possible correction in the near future of the Bitcoin. Some analyst see the massive surge in the past few weeks could be a sign that the main coin in the crypto universe may be overbought.
Some crypto analysts are saying that the Bitcoin has not been this overbought since December 2017 when the Bitcoin rose from $13,700 to 20,000 in a day. Not all are as skeptical.
CEO of Morgan Creek Digital, Mark Yusko, is optimistic that the coin will continue to rise and may even reach five hundred thousand within the decade.
Altcoins Were Not as Lucky as The Bitcoin
Altcoins we in the red in the aftermath of the volatile weekend. Ethereum remained the second largest coin in the crypto market. The Ethereum made a brave stand to rise above 190 but quickly retreated and lost 3% to fall close $189 on the day.The third largest coin XRP also slipped from intraday High of $0.3236 to settle at $0.3180.