The bullish market continues.Today has been a good day for Bitcoin, an extraordinary day for some altcoins like Bitcoin Cash, Monero, and Stellar; but a fumble for Verge currency. The whole value chart, taken from CoinMarketCap, is shown below.
The Bitcoin Cash rise is maybe explained by the overall situation of optimism on the market, and the future improvements that they have announced. These improvements are aimed to improve the number of transactions that can be made in an amount of time. Some say that this actions will permit a Paypal-like level of transactions in the future. BCH has risen up to 15% and has maintained this level all day, decoupling itself from its sister coin.
Bitcoin, the mother of all coins has experienced also a marginal rise of 3%; and its dominance has gone down to 40.4%. When the market grows, people diversify its cryptocurrency portfolio, and altcoins tend to be benefited also in this way; so dominance goes down a bit. Bitcoin has had the tendency of rising slowly but surely, and we expect to keep going up in that way. Slowly but surely, the predictions for Q2 have been spot on.
Monero is also another coin that has risen again in profitability after the hard fork initiated to avoid centralization of its hash rate by Bitmain. Being traditionally a GPU mined coin, with its pools being invaded by ASICs, the mining difficulty went up. But now, with that hard fork, it has been slowly getting more profitable. Today, it rose more than 17%.
The biggest loser of the day was Verge: before the announcement of its partnership with Mindgeek, the world porn powerhouse, it had risen more than 20%, but it seems that their community was not impressed and was waiting for something more. Despite the good day, it has gone down more than 8%..