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.
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.