Terra Classic Surges 20% as Bitcoin Stagnates at $19,000
Terra Classic is surgeing by 20% and is currently the best performing cryptocurrency. Bitcoin, on the other hand, has not moved from it's position at $19,000.
Bitcoin's weekend is uneventful as the asset has settled at around $19,000. Some analysts believe that this stability is a good sign for Bitcoin, as it shows that the asset is maturing and becoming more stable.
It's been a mixed day for cryptocurrencies, with some coins seeing minor losses while others, like LUNC, continue to rise. LUNC has been on a tear lately, posting another double-digit price increase today. This altcoin is quickly becoming one of the top performers in the market, and it doesn't show any signs of slowing down.
Bitcoin Boring at $19K
The cryptocurrency markets had a quiet week, with the primary asset, Bitcoin, trading around $19,000 for most of the week. This is in contrast to the previous week, which was much more volatile. However, this stability may not last, as analysts predict that the markets could see more activity in the coming days.
The market looks like it is heading towards a bullish trend, with Bitcoin spiking to a 12-day high of $20,400. However, this is short-lived, and Bitcoin dumps below $19,000 once more. It is difficult to predict where the market will go next, but it is clear that there is a lot of volatility in the market at the moment.
I see the price of Bitcoin remaining level at around $10,000 for the foreseeable future. There may be some spikes and dips along the way but overall I think it will stay relatively stable.
Bitcoin's price has been relatively stable over the past few days, hovering just above $19,000. Its market cap remains at $370 billion, and its dominance over the altcoin market is still at 39.5%. However, there is not much excitement or activity in the market at the moment, and many investors are waiting to see what will happen next.
LUNC Steals the Show, Again
It is quite clear that the altcoin market is currently in a state of stagnation, with very little movement happening on a 24-hour scale. Ethereum is one of the poorest performers at the moment, though it is still remaining above the $1,300 mark. This is likely due to the recent merge that took place just over two weeks ago.
The slight dip in the prices of Binance Coin, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu, and Avalanche is a minor setback compared to the overall positive trend in the cryptocurrency market. Ripple, MATIC, and TRON have seen modest gains, which is a positive sign for the future of the market.
LUNC is quickly becoming the go-to choice for mid-cap altcoins, as it continues to outperform the competition. Do Kwon's recent claims have only helped to fuel the fire, and Terra Classic is up by 20% in a day and over 50% weekly.
With the crypto market cap standing still at $935 billion, it is clear that the overall market is not yet ready for a major altcoin rally. However, with most other alts quietly sitting today, it is only a matter of time before the market wakes up and realizes the potential of these digital assets.
The post Weekend Watch: Terra Classic (LUNC) Soars 20% appeared first on CryptoPotato. The Terra Classic token (LUNC) has been on a tear lately, surged 20% this weekend.