Altcoins are now in pent-up demand. The long absence of purchases and a small drop in prices, says that as soon as possible the price growth of the most popular altcoins should start again.

Bitcoin’s price continues its decline for the seventh day in a row. Strong economic data, which was published yesterday, pushed up BTC price a little but it’s too early to speak about the resumption of price growth.

The banking crisis in Europe goes even further in Italy. While in countries like Germany and France we see only a decline of major banks’ asset prices, in Italy besides the banking crisis itself another problem occurred - civilian Italians began to distrust bank transfers and payments. One of the possible solutions may be Bitcoin, which can serve as a salutary means, grow in price and even get official recognition in the country.

At the beginning of the week, the fall of alternative coin prices seemed to have stopped and they even slightly increased in price.

After the slight decrease that we have seen over the past two days, the Bitcoin price returned to a level around $660. At the moment, this level supports the price and doesn’t let it to move down. The lack of sellers in the market, speaks to the imminent resumption of the uptrend.

This week holders of altcoins suffered losses, as all altcoins except Ethereum lost in the price. The more altcoins are produced, the less popular they are.

Bitcoin price last week remained mostly stable, as small fluctuations up and down did not change the situation. Macroeconomic news, which gave a favorable backdrop for risky assets also did not affect the movement of Bitcoin price.

Altcoin trading activity on the markets is gradually reducing. Some investors believe that investment in risky assets such as altcoins is not justified in an unstable economy. Others fear that the majority of new altcoins subsequently will be scams and they will lose money.

Bitcoin price movement has gone quiet and isn’t moving neither up nor down. But today, the situation may change. Macroeconomic news from the US and Europe could cause fluctuations on the currency market and will give an impetus to Bitcoin price growth.