Altcoins Begin to Recover as Bitcoin (BTC) Bounces Nearly 20%
The past week has arguably been one of the biggest tests for digital currencies to date as the coronavirus-inspired sell-off continues to panic global markets.
After briefly falling below $4,000, Bitcoin (BTC) has shown signs of recovery on Thursday, surging more than 19% to $6,300. With BTC on the rise, the vast majority of altcoins have followed suit.
Here are some of the notable gainers that have managed to outpace Bitcoin on the day:
- Status (SNT) +64.4%
- Steem (STEEM) +53.8%
- Enjin (ENJ) +48.5%
- BitcoinSV (BSV) +36.7%
- V Systems (VSYS) +33.7%
- Crypto.com (MCO) +33.7%
- Komodo (KMD) +31.7%
- Maker (MKR) +27.8%
- Tezos (XTZ) +23.5%
- Dash (DASH) +21.4%
Time will tell whether this relief rally is a dead cat bounce or an indication that digital currencies are able to decouple from the broader market meltdown.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.