Price Analysis: Altcoins May Sigh with Relief

Nov 09, 2017 at 18:15 // News
Author
Lana Smiley
Altcoin price analysis

The rally of the BTC price had some negative influence on other cryptocurrencies. Now, as Bitcoin will probably become steady, without surges of falls, other coins will have a chance to improve their positions.

Andrei Popescu, a lifetime member of the Bitcoin Foundation, and Chief Experience Officer at C.O.S.S. PTE LTD, a platform which encompasses all the features of a digital economic system based on cryptocurrency, told Coinidol: 

Andrei Popescu

“Ether and the other altcoins are suffering now of poor liquidity because of the Bitcoin rally.” Good news is that BTC is becoming less volatile, so “the selling pressure for other altcoins will diminish.”

Ethereum.jpg

We can find great evidence to such a statement in altcoin price charts at CoinMarketCap. The values of most altcoins have increased after SegWit cancellation. The Ethereum price has increased by 6.48% ($319.14), Litecoin is up to $62.44 (0.41% increase), and for a Ripple coin you would have to pay $0.216219, which is 2.93% more than on November 8. 

Litecoin.jpg

Bitcoin Cash became one of the few coins whose price has decreased. On November 9, it cost $631.46, which is -0.33% less than on November 8.

BCH.jpg