Bitcoin drifted lower on Tuesday leading to a mixed trading session for altcoins. Most major cryptocurrencies by market capitalization are currently trading sideways, either trading up or down by a marginal percentage.
At the time of writing, Bitcoin is trading down 0.5% at its current price of $6,370. It is beginning to gradually drift nearer to its historical region of support in the $6,200 region, which must be defended by bulls or else it runs the risk of falling to its year-to-date lows in the $5,800 region.
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Altcoin Markets Post Mix Results Amidst Bitcoin Stability
Although Bitcoin has been gradually declining over the past couple of days, it has not led the altcoin markets, which have beared witnesses to incredibly mixed trading over the past weeks. The most volatile altcoins of this week have been primarily Bitcoin Cash (BCH), Ripple (XRP), and Basic Attention Token (BAT).
Bitcoin Cash has been one of the most volatile major altcoins recently, mainly due to increased trading volume stemming from its upcoming hard fork event that is scheduled to occur on November 15th.
This event caused BCH’s price to see a massive price rise earlier this month, rising from lows of $413 to highs of $636 on the aggregated markets, a staggering 54% rise over a one-week period, from October 31st to November 7th.
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