Last week we saw the price of Bitcoin reach record levels when it passed the $6,000 mark, whilst the majority of the major Alt coins were down. One of the reasons for the hike in price was due to investors moving their money from Alternative Coins (‘Alt Coins’), such as Ethereum and Ripple’s XRP and placing it on Bitcoin in order to receive free Bitcoin Gold coins, once the hard fork occurs.
It now appears that investors are moving their money back into the Alt coins. XRP is up almost 10% today whilst Ethereum and Litecoin are both up 8%. Neo is up 14% whilst Walton’s price has risen by 16%.
It will interesting to see just how far the Alt coins recover and whether we will now see a week whereby they climb and Bitcoin continues to fall.
In our post on Saturday (click here) we stated that we expected to see volatility in Bitcoin and that XRP, Neo, Walton and Ethereum were Coins to look out for in the new future!
Stay tuned for further news and updates. We’d also like to hear from our users – please use the contact page to leave us feedback!
We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.