Markets Trade Sideways, Bitcoin Touches $6,600 Earlier Today


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                Crypto markets continue trading sideways, with 16 out of top 20 coins by market cap slightly down after yesterday’s growth.
                <p dir="ltr" id="docs-internal-guid-98557ecd-7fff-a468-3c75-0560ffe0f03a">Tuesday, Oct. 9: Crypto markets keep trading sideways, with almost all top 20 coins by market cap in the red after seeing some growth <a href="https://cointelegraph.com/news/crypto-markets-finally-see-wave-of-modest-growth-after-period-of-relative-stability?utm_source=telegram&amp;utm_medium=social">yesterday</a>.</p><p dir="ltr"><img alt="Market visualization from Coin360" src="https://coinsonnews.com/wp-content/uploads/2018/10/markets-trade-sideways-bitcoin-touches-6600-earlier-today.png" title="Market visualization from Coin360"></p><p dir="ltr" style="text-align: center"><em>Market visualization from <a href="https://coin360.io/" rel="nofollow,noopener" target="_blank">Coin360</a></em></p><p dir="ltr">Bitcoin (<a href="https://cointelegraph.com/bitcoin-price-index">BTC</a>) is slightly down around 0.3 percent today, trading at $6,627 at press time. During the day, the major <a href="https://cointelegraph.com/tags/cryptocurrencies">cryptocurrency</a> dipped two dollars below the $6,600 threshold, and the intraday high amounted to $6,669. While markets continues to fluctuate in a mostly <a href="https://cointelegraph.com/news/crypto-markets-stay-mostly-stagnant-despite-this-weeks-major-news-for-industry?utm_source=Telegram&amp;utm_medium=social">stagnant</a> manner, Bitcoin is holding around 2 percent of weekly gains, as well as 5 percent gains over the past 30 days. Bitcoin&rsquo;s dominance has been remaining almost flat within the day.</p><p dir="ltr"><img alt="Bitcoin 24-hours price chart. Source: Cointelegraph Bitcoin Price Index" src="https://coinsonnews.com/wp-content/uploads/2018/10/1539142555_86_markets-trade-sideways-bitcoin-touches-6600-earlier-today.jpg" title="Bitcoin 24-hours price chart. Source: Cointelegraph Bitcoin Price Index"></p><p dir="ltr" style="text-align: center"><em>Bitcoin 24-hours price chart. Source: Cointelegraph <a href="https://cointelegraph.com/bitcoin-price-index">Bitcoin Price Index</a></em></p><p dir="ltr">Ethereum (<a href="https://cointelegraph.com/ethereum-price-index">ETH</a>) has been trading around the same levels within the day, fluctuating between $226 and $231. The second cryptocurrency by market cap is down just over 1 percent over the past 24 hours, and is trading at $227 at press time, up around 3 percent over the past 7 days.</p><p dir="ltr"><img alt="Ethereum 24-hours price chart. Source: Cointelegraph Ethereum Price Index" src="https://coinsonnews.com/wp-content/uploads/2018/10/1539142555_294_markets-trade-sideways-bitcoin-touches-6600-earlier-today.jpg" title="Ethereum 24-hours price chart. Source: Cointelegraph Ethereum Price Index"></p><p dir="ltr" style="text-align: center"><em>Ethereum 24-hours price chart. Source: Cointelegraph <a href="https://cointelegraph.com/ethereum-price-index">Ethereum Price Index</a></em></p><p dir="ltr">Ripple (<a href="https://cointelegraph.com/xrp-price-index">XRP</a>) has seen bigger fluctuations over the 24 hour period, down around 2 percent, and trading at $0.48 at press time. Also considerably down around 10 percent on the week, the third top cryptocurrency is still holding its monthly gains, up around 77 percent over the past 30 days.</p><p dir="ltr"><img alt="Ripple 24-hours price chart. Source: Cointelegraph Ripple Price Index" src="https://coinsonnews.com/wp-content/uploads/2018/10/1539142556_828_markets-trade-sideways-bitcoin-touches-6600-earlier-today.jpg" title="Ripple 24-hours price chart. Source: Cointelegraph Ripple Price Index"></p><p dir="ltr" style="text-align: center"><em>Ripple 24-hours price chart. Source: Cointelegraph <a href="https://cointelegraph.com/xrp-price-index">Ripple Price Index</a></em></p><p dir="ltr">Total <a href="https://cointelegraph.com/tags/market-capitalization">market capitalization</a> has been hovering between $218 billion and $221 billion over the day. At press time, total market cap is $219 billion, while daily trade volume has slightly dropped to $11 billion.</p><p dir="ltr"><img alt="Total market capitalization 24-hours chart. Source: CoinMarketCap" src="https://coinsonnews.com/wp-content/uploads/2018/10/markets-trade-sideways-bitcoin-touches-6600-earlier-today.jpeg" title="Total market capitalization 24-hours chart. Source: CoinMarketCap"></p><p dir="ltr" style="text-align: center"><em>Total market capitalization 24-hours chart. Source: <a href="https://coinmarketcap.com/charts/" rel="nofollow,noopener" target="_blank">CoinMarketCap</a></em></p><p dir="ltr">The only cryptocurrency among the top 20 coins seeing considerable gains at press time is Tezos (XTZ), which is up around 3.7 percent. The altcoin is trading at <a href="https://coinmarketcap.com/currencies/tezos/" rel="nofollow,noopener" target="_blank">$1.41</a>, up about 6 percent over the past 7 days.</p><p dir="ltr"><a href="https://cointelegraph.com/tags/dogecoin">Dogecoin</a> (DOGE) is slightly up too, trading at <a href="https://coinmarketcap.com/currencies/dogecoin/" rel="nofollow,noopener" target="_blank">$0.0056</a> at press time, up around 0.7 over the the past 24 hours.</p><p dir="ltr"><a href="https://cointelegraph.com/tags/tron">TRON</a> (TRX) and its lower neighbor <a href="https://cointelegraph.com/tags/iota">IOTA</a> (MIOTA) are both down over the past 24 hours, trading at <a href="https://coinmarketcap.com/currencies/tron/" rel="nofollow,noopener" target="_blank">$0.025</a> and <a href="https://coinmarketcap.com/currencies/iota/" rel="nofollow,noopener" target="_blank">$0.586</a>, respectively. The rest of the top 20 coins are down between 0.3 and 2.5 percent on the day.</p><p dir="ltr">Founder of financial advisory organization DeVere Group Nigel Green has recently <a href="https://www.bloomberg.com/news/articles/2018-10-05/bitcoin-hits-inflection-point-with-volatility-at-17-month-low" rel="nofollow,noopener" target="_blank">suggested</a> that the currently stagnant condition of crypto markets could be a &ldquo;signal that the cryptocurrency market is maturing.&rdquo; Indeed, the markets have seen some sort of lack of volatility recently. Bitcoin reportedly hit &ldquo;an inflection point with volatility at a 17-month low.&rdquo;</p><p dir="ltr">Crypto analyst Joseph Young <a href="https://twitter.com/iamjosephyoung/status/1049805243263799296" rel="nofollow,noopener" target="_blank">tweeted</a> that the lack of volumes on markets last week was &ldquo;concerning,&rdquo; noting that it is &ldquo;quite evident&rdquo; that the industry is experiencing &ldquo;seller fatigue.&rdquo; Given the two-month stability of Bitcoin&rsquo;s price, the &ldquo;bottom could be in,&rdquo; Young concluded.</p><p dir="ltr">Cointelegraph recently <a href="https://cointelegraph.com/news/research-says-crypto-market-on-verge-of-implosion-cites-low-transaction-volumes">reported</a> on a Juniper Research study which found that crypto markets are on the verge of &ldquo;implosion,&rdquo; while transaction volumes are dropping.</p><p dir="ltr">Yesterday, crypto research firm Diar released an analysis claiming that U.S. dollar trading volumes at crypto exchange and wallet service <a href="https://cointelegraph.com/tags/coinbase">Coinbase</a> have hit a one-year low in the third quarter of 2018.





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