Market Wrap: Bitcoin Stays Near $55K as Ether Hits Brand-New Record Price
Bitcoin’s stagnant market is due to investors continuing to explore other cryptocurrencies, says one trader.
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NU is one of the few coins that has shown positive gains in the past day.
BTC had climbed from $35,709 to as high as $42,441. Then the slide started.
Ether’s dominance is at 19.78%, the highest it has been since May 16.
“What saddens me is the way the weak hands and recent buyers see Elon Musk as a prophet, powerhouse and decisive figure in bitcoin,” said one trader.
Some see ether and bitcoin now behaving as very separate assets, which normally isn’t the case.
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