Bitcoin stagnates at $40K and cryptocurrency FIL up 11%
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Answer Bitcoin stagnates at $40K and cryptocurrency FIL up 11%
Currently, the cryptocurrency market is abnormally calm, with Bitcoin failing to make any decisive move, while remaining above the $40K level.
Most altcoins are in a similar position, with the exception of Filecoin, which is up by double digits.
Bitcoin price stagnation at $40K:
It was just over ten days ago when the primary cryptocurrency failed to break the $47,000 resistance and started its gradual decline.
Within days, Bitcoin found itself dropping to $45,000 and $43,000.
Bitcoin also lost its January high of $42,000 before the situation worsened on April 12.
As of the time this article was published, Bitcoin stands above the $40,000 level, which means that its market capitalization is still below the $800 billion mark.Read:Report: “Facebook” is gathering a number of platforms to offer its digital currency for trading
Filecoin steals the spotlight:
Although they are known for their highly volatile nature, altcoins have failed to cause any turbulent movements in the past 24 hours.
The price of Ethereum dropped below $3000 for the first time in several days, but regained that level soon after and is currently standing just above it as these lines are written.
Binance coin is still consolidating above the $410 level after the coin failed to breach the $420 level a few days ago.
Filecoin is the biggest winner with a daily increase of more than 11%.
As a result, the value of the cryptocurrency FIL has risen to over $21.Read:Once again sentiment towards Bitcoin tends to be very scary with Bitcoin remaining below $50K
Given the aforementioned lack of price action from large-cap cryptocurrencies, the total market capitalization is still less than $1.9 trillion.
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