Market Analysis11/9 –
Bitcoin is yet again recovering from its weekly low of $321 and is currently sitting at $360 range, around a 10% increase in the last 10 days.
We have been in the dumps for quite a while now, and it sure seems the market is turning for the good. While progress has stalled around the $370 mark, the constant volume and low prices may prove to be enticing enough for investors to get in at this position.
Two coins that really bounced back was Counterparty as well as Darkcoin, with Counterparty going from $3 dollar range with it now sitting at $5.20.
As you can see just today Counterparty has increased by nearly 10%, and the 7 day graph is just as positive.
With Counterparty aiding crowd sales such as the one for Storj, a decentralized cloud storage system, it’s easy to see the value that Counterparty has for people interested in the platform.
When it comes to the second and third spot for cryptocurrency, nothing has changed. Ripple is still number two, and Litecoin is still number three. Litecoin’s volume could be what makes it’s come back, as by the screenshot taken you can see that it is at a sum of around $3 million dollars.
With Bitcoin’s volume at $18 million, and Ripple’s under $1 million, Litecoin has impressive volume (and liquidity) only second to Bitcoins. If this proves to be enticing enough for investors to hop into Litecoin is yet to be seen however.
Besides Darkcoins rebound, another privacy centric cryptocurrency has recovered too, after what seemed like a FUD based decline.
Shadowcash is approaching nine cents, and may even increase more. Shadowcashs increases aren’t as stable though, so I’d wait for it to come back a little bit if you are looking to perhaps get into Shadowcash.
This week has treated cryptocurrency well, but if there’s one thing I have learned from cryptocurrency it’s that fluctuations come and go like the wind. I’ve said before, and I’m saying it again. Be smart above your decisions, and don’t invest more than you can afford.
Photo Sources: Coinmarketcap and Bitcoin Graphs