Bitcoin's weekly rise leaves EOS and BAT behind

Bitcoin's weekly rise leaves EOS and BAT behind

By CRYPTOUS | CRYPTOUS | 7 May 2020


Bitcoin, the world's largest cryptocurrency, appears to be gaining strength as the long-awaited halving of the block reward approaches. While many expected Bitcoin to rise to new heights right now, the real currency recovery after Black Thursday has been remarkable. However, for once, it seems that Bitcoin's growth is not affecting the alternative currencies on the market, and many of them register significant losses.

Bitcoin [BTC]

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Source: BTC / USD at TradingView

You could say that Bitcoin has been the best-performing crypto asset on the market, and its performance lately seems to have found a gear after the king coin increased by more than 7% over the past week. In fact, at the time of writing, Bitcoin was trading at $ 9,272, well above its levels before the collapse last month. Bitcoin's price performance immediately before and after the halving event will be crucial to the performance of the entire crypto market.

Optimism in the Bitcoin market was highlighted by technical indicators of the currency as the parabolic SAR the dotted markers were well below the candle price, the MACD line was emerging above the signal line in the charts.

In another indication of how bullish the Bitcoin market is, Glassnode recently revealed that the number of entities active on the Bitcoin network had reached levels last seen during the 2017 bull run.

EOS

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source: EOS / USD at TradingView

EOS, once a regular in the top 10 of cryptocurrency charts, has been steadily declining in recent months. And, in light of its lukewarm price performance, EOS doesn't seem to be making the charts anytime soon either. Unlike most alternative currencies on the market, EOS continued to be very close to its price levels after Black Thursday, with EOS trading at $ 2.71, as of writing. In the last 7 days, contrary to the positive movement of the king currency, EOS fell more than 7%.

The Bollinger Bands mouth , at the time of writing, was widening slightly, suggesting some incoming volatility in the market, while the Relative Strength Index , corresponding to falling prices, fell towards the oversold zone .

EOS appeared in the news recently after Tezos, a comparatively new cryptocurrency and the last participant in the top 10, surpassed in terms of real volume and total value blocked in stakeout.

Basic Attention Token [BAT]

 

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Source: BAT / USD at TradingView

The Basic Attention Token, or BAT, was ranked 34th on the crypto charts, as of writing, with a trade price of $ 0.18. Like EOS before, BAT also didn't see a steady rise after Bitcoin's price rise. In the past 7 days, BAT fell nearly 4%, with the token registering stagnant market volumes across the board.

The Chaikin Money Flow highlighted the disappointing BAT market, with negative capital inflows. Furthermore, the impressive Oscillator highlighted only minimal momentum in the market.

BAT was in the news recently after one of its developers took note of Bitcoin's infamous transaction and processing times and congestion issues, when asked why the Brave Browser did not integrate Bitcoin or Lightning Network.


CRYPTOUS
CRYPTOUS

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CRYPTOUS
CRYPTOUS

News about crypto, blockchain and exchanges also about new airdrop and ICO

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