24 Hour Change Top 30 Cryptocurrency - Steem Price & Chart - May 1, 2018
Biggest Gainers: Ontology +16.9% EOS +15%
Biggest Losses: Bitcoin -0.3%
As you can see, alt coins are taking off. Many coins are green compared to bitcoin, which has been relatively stable over the past few days. EOS had a huge run due to FOMO and an updated release of testate. FOMO stands for fear of missing out, EOS had been pumping for several weeks and continuously breaking ATHs. People see this type of action and do not want to miss the move.
In fact, I wouldn’t be surprised if you felt the FOMO on this one because I sure did. Ontology made a nice move up as well as a further continuation of a strong uptrend. These Binance coins have been popping off lately and seems that they are going to lead the next alt rally. Many coins have big releases, updates and events in Q3 & Q4 of 2018 and this should further cause bullishness among alt coins.
Another thing to look at is the bitcoin dominance chart on coinmarketcap. Click tools to view this and total cap charts. Bitcoin dominance looks to be attempting to break previous lows and there overall alt coin dominance is breaking out above ATHs. Overall, alt coins are moving very nicely right now.
The important thing is bitcoin though. Bitcoin needs to be bullish/sideways with bullish sentiment for this alt rally to be able to be sustainable. The only reason people trade alt coins is to make more BTC. They have a larger incentive to purchase them and pump them when BTC is going up because you are essentially making money on top of your money.
The next few weeks will definitely be an interesting time and I’m looking forward to it.
24 Hour Change
Written and edited by @bullsvsbears
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Steem chart from CoinMarketCap.com
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EOS isn't slowing down!!
steem is recovering well now
I agree , but does this mean the price will continue to rise up
Whoah :)
Found it in my feed. :)
keep up the good work mate
Its true that the steem is recovering but I expecting it go down again as the nature of business is
This post has received a 8.83 % upvote from @boomerang.
Buen post , me sirvio de ayuda ,saludos.
wow every day cripto currency rate is increase.
Great analysis, thanks for sharing. I've smashed the upvote button for you!
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