Bitcoin price made a splash over the past 24 hours and inflicted a bullish impact on the rest of the market as well. While altcoins were expected to f
Bitcoin price shot up over the past 24 hours following the court ruling in favor of Grayscale against SEC.The crypto market is still experiencing Fear, which would change only if these rallies are sustained.made a splash over the past 24 hours and inflicted a bullish impact on the rest of the market as well. While altcoins were expected to follow BTC’s lead, some particular tokens managed to sneak in significant rallies with just one common factor - having Bitcoin in their name.
Bitcoin hardfork and namesake tokens, specifically Bitcoin Cash and Bitcoin SV , emerged as leaders of the day. BCH noted an 18.22% increase in 24 hours, pushing the price of the asset to $225, up from $190. BSV, although it did not note a similar run, still managed to chart a considerable rally of 8.36%, trading at $33.5 at the time of writing.has recorded such a rise in a single day.
Should corrections hit BCH, the Bitcoin namesake is expected to keep above the critical support at $182. Falling through this line could push thedown to $150 and lower. Those looking to jump into investing in BCH and BSV, as well as BTC, expecting further increases soon should note that the crypto market is still in Fear.
The Fear and Greed Index slipped below 40 this week, suggesting investors are spooked and could sell to take profits following the rally of the past 24 hours. This could result in a drawdown in cryptocurrencies’ prices.Thus, investors must observe patience and ensure they do their due diligence before making any move.
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