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BTC pulls itself up by its bootstraps, altcoin market lags behind

Oct 20, 2020 2 min read
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The price of Bitcoin ( BTC) experienced a price increase yesterday and pushed as high as 11,820 USDT on OKEx. The first and foremost cryptocurrency is currently trading around $11,750 and is up approximately 2.3% over the past 24 hours.

Altcoins have failed to keep pace with the market leader. The price of Ether (ETH), Bitcoin Cash (BCH), Chainlink (LINK) and Cardano (ADA) are down anywhere between 0.1% to 1.0%, as of press time.

Yesterday’s BTC price increase successfully drove the total cryptocurrency market capitalization up 1.4% to $368,505,488,735, according to CoinGecko. Meanwhile, BTC dominance is nearly 59%.

Investors in the traditional markets are still holding on to hope that a stimulus deal will be reached in the United States before the country’s presidential election next month. Cryptocurrency investors will likely be keeping a close eye on any major developments on Wall Street.

Top altcoin gainers and losers

  • APM/USDT +34.82%

  • DASH/USDT +12.18%

  • FRONT/USDT +8.56%

  • FRONT/USDT -17.24%

  • SFG/USDT -20.91%

  • ROAD/USDT -43.09%

The worst losses on OKEx over the past 24 hours are more dramatic than the best gains. ROAD once again finds itself as the worst performer after a 43.09% collapse. S.Finance ( SFG) also returns to the losers’ list after dropping an additional 20.91%.

Visit https://www.okex.com/ for the full report.

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. OKEx Insights presents market analyses, in-depth features, original research & curated news from crypto professionals.

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was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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