Crypto Market Update Mar.26: AltSeason Continues

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Alt Season

Is the brand new 2019 Altcoin season at its peak? It appears that a multitude of cryptocurrencies have recently arrived at resistance areas. In the crypto markets, everything happens quickly, and sharp rises carry rapid, sharp corrections.

This is familiar behavior that has been persisting for the past several weeks, with the start of the week commencing with a correction where we see upsurges in an endeavor to pierce resistance levels.

The effects of the Bitcoin price on the majority of the market is obvious, and when matching up the Bitcoin chart to the major Altcoins' charts, we can notice that a direct correlation is obtained: where the Altcoins gain more than Bitcoin.

Referring to spikes: Only today, trailing an important announcement, Everex (EVX) hasEverex Gains gained 300% in only 1 day. Even though it is not the first coin to demonstrate such gains, seeing it after such a bearish year may be a fore-token.

The market is not silent, and enthusiasm and hype are slowly building up. If this trend keeps on, we can anticipate crypto to reach the mainstream. Moreover, there is also an awakening trend in the events involving the crypto market, such as companies announcements.

A new analysis took a look at the dominance of Bitcoin over the crypto market whilst taking into consideration the liquidity factor. The study reveals that, in practice, Bitcoin has significantly greater dominance– 80%– way higher than what is commonly known– which is around 50%. This can educate us a lot on the relevance of Bitcoin to the crypto markets.

Generally speaking, it can be said that optimism is back and that positive trend continues this week as well, and it seems that the market is still at the bottom in whens it come to its market cap and its potential to grow. But … only time will tell.

Market Data

Market Cap: $137.7 B
24h Vol: $34.0 B
BTC Dominance: 50.7%
BTC: $3,908 %0.5
ETH: $135.0 %0
XRP: $0.3 %0.2
BTC Shorts (BFX): 20.2 K BTC
BTC Longs (BFX): 23.8 K BTC

Crypto News

Market-Update-21-min

95% of Bitcoin Trading Volume is Fake: Mostly By Unregulated Exchanges. Bitwise, an Asset Management enterprise, operated in San Francisco reveals that unregulated crypto exchanges along with CoinMarketCap, a well known source of Bitcoin data, have been faking trading volumes.

Russian Parliament Approves Swift-Alternative but Moves Crypto Bill to April. Russia has continued to support its positive standpoint towards blockchain by approving a Swift-like payment network to elude sanctions while rescheduling the proposed crypto bill for April

China’s Gov. Institute Releases Cryptocurrency Ranking: EOS First But Bitcoin (BTC) Not Even In the Top 15. Once more, China tenders its cryptocurrency ratings with EOS ranking no. 1 on the list in spite of predictions that it might take a long time to develop and gain recognition. On the other hand, the revered Bitcoin ranks no. 15 on the list.

BitMEX CEO Arthur Hayes Turns Bullish! BTC at $10,000 “Is My Number For 2019”, He Predicts. Arthur Hayes, the CEO of BitMex, who is known to be quite pessimistic about Bitcoin now says that “green shoots will appear towards the end of 2019.”

Payment Service Square Is Hiring Crypto Engineers, Offers Salaries in Bitcoin. The US payment platform says it is aiming to hire four crypto engineers and a web designer, who can work remotely on a full-time basis. Square noted that they would like to pay earnings in Bitcoin.

Switzerland’s biggest online retailer starts accepting Bitcoin ETH, RIPPLE, BCH, LITECOIN, BNB, and even OMG. The leading online retailer in Switzerland in collaboration with Datatrans and Coinify now invites its customers to patronize them with any one of the seven different cryptocurrencies available on the platform.

Japan: Yahoo!-Backed Cryptocurrency Exchange Set for May Launch.Taotao, a Japanese cryptocurrency supported by Yahoo intends to commence trading in Bitcoin and additional selected cryptocurrencies in May 2019.

The post Crypto Market Update Mar.26: AltSeason Continues, Everex Spikes 300% and Bitcoin Dominance appeared first on CryptoPotato.

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