The Crypto Landscape Becomes Stagnant as Bitcoin, Altcoin Avoid Volatility

Oct 28, 2018 at 14:33 // News
Author
Coin Idol
Data from Coin360 shows an insipid picture for temporary speculators, but one that has greatly pleased several analysts, who have started saluting a new epoch of Bitcoin (BTC) stability.

A creepy calm lingers over the crypto markets on October 26, 2018, as Bitcoin fluctuation reaches an all-time low and Altcoins stay stale.

Data from Coin360 shows an insipid picture for temporary speculators, but one that has greatly pleased several analysts, who have started saluting a new epoch of Bitcoin (BTC) stability.

On October 26, Bloomberg joined several crypto sector commentators to talk about BTC's absence of volatility, this month being the least volatile for one and a half years. Commentators said this was an indication the flagship crypto was approaching its bottom.

The Repeated Sentiment

At the same moment, one fund management head revealed to the publication that the continuing bear market should be becoming tired and a significant upturn was probably about to create BTC's next effort.

That feeling was iterated by Fundstrat World Advisors' Tom Lee this very week in separate comments to Coinidol.

Currently at the time of press, BTC/USD is trading at $6,483. The two has still stayed weirdly stable since Sunday, October 21, 2018.

Among the altcoins, ETH is also registering only a small percentage change over the last day as per press time.

Concern had greatly departed from the biggest altcoin asset this very week prior to the planned hard fork earlier in 2018 (January) which has experienced different issues to its implementation. Constantinople was initially scheduled for November 2018.

CoinMarketCap Rankings

ETH/USD is now exchanging hands at $204, just below  the same time last week against a backdrop of almost 8% monthly losses.

 

Throughout the first 20 altcoin assets, no abnormalities to the sideways trading stretch had occurred, with coins remaining within 1% of their place the last 24 hours. Zcash (ZEC) is the only exception, ranked in the 19th position by market cap, which had just over 4% losses to trade at $121.97 at press time.

The overall sum of market capitalisation of all digital currencies stays just below $210 billion, a position it has been rotating around for the last 8 days.