Cryptocurrency markets are extending gains that they generated in the last 36 hours. Bulls believe that Cryptocurrencies are the future of finance and speculations regarding the entrance of institutional investors into crypto markets encourage trader’s sentiments. The market analysts are also seeing strong buying opportunities in crypto space albeit the rally of 33% last month.
Bitcoin trades in the range of $9,400 today, while altcoins are making small sideways moves – with exception to few coins such as Bitcoin Cash (BCH), Cardano (ADA), IOTA (MIOTA) and Stellar (XLM).
The CEO of Sequant Capital, George Zarya says: “It’s where the future of finance is and that’s a very exciting thing to be a part of. Crypto is an extremely vibrant industry and where a lot of the fast-growing tech ‘unicorns’ will be appearing, which naturally encourages investors to get involved.”
It’s true that the crypto sphere is getting bigger day by day and trading environment is becoming more competitive. This is evident from the robust trading volume in the last couple of weeks. This is because analysts see the dip in price as a buying opportunity for investors who missed buying cryptocurrencies at previous lows.
“Early investors also realize that some opportunities may be lost as the sector becomes more and more competitive – so they’re getting in now,” George Zarya says.
Cryptocurrency Market Extends Gains’
Source Image: coinmarketcap.com
Ripple price (XRP) is trading in the green today. The coin is up almost 3% today after generating strong gains in Wednesday trade. XRP coin currently trades around $0.87.
EOS is among the most significant loser. Its price declined 2% today to $18. EOS coin has hit an all-time high of $23 early this week. IOTA is among the most prominent gainers. Its price jumped 21% today to the highest level in the last three months.
Featured Image: Depositphotos/© rdaniluk