Bitcoin Cash, Ethereum, Ripple, And The Game.com Coin Rally But They Leave The BTC Core Behind In The Low $8,000’s. Overall, the past few months have been hard on cryptocurrency gamblers and investors. Bitcoin, Ripple, Litecoin, BTC Cash, and Ethereum officially went into bear markets. As a result, many of the people lost money that bet on Bitcoin and other cryptocurrencies in December 2017. Over the past week, the Game.com altcoin, Ripple, Bitcoin Cash, Litecoin and Ethereum are showing signs of strength. However, BTC Core hit a little over eight thousand dollars and has traded sideways since. Take a look at what Tom Lee has to say in this CNBC Fast Money Youtube video.
What Made Bitcoin Cash & The Game.com Coin Rally?
In the United States of America, April is a notorious month for taxes. Above all, people that bet on Bitcoin had to sell a lot of their positions. As a result, the price of BTC core has not increased like the other cryptocurrencies. Folks that gambled on Ethereum, Litecoin, Ripple and smaller Altcoins like Game.com ($GTC) are making bank! Interestingly, the Game.com ($GTC) altcoin has gone up over seventy-five percent in the past twenty-four hours. Also, the volume is much higher with over twenty-seven million altcoins traded! Congratulations if you bet on that cryptocurrency!
What Else Besides The Tax Season Is Helping Cryptocurrencies?
Besides most people are paying taxes on their Bitcoins, other events have made these altcoins surge. Above all, Ethereum, Litecoin, Ripple, Dogecoin, and BTC Cash took a huge hit. As a result, investors were able to buy them very cheap. The first quarter of 2018 started altcoin gamblers started to see how volatile they are. As a result, a lot of the investors panicked and sold their positions, which lead to a decrease in price.
The Pump And Dump Cryptocurrency Groups
Unfortunately, the Cryptocurrency market resembles the stock market in the late 1990’s. Above all, there have been no regulations on small coins like Game.com ($GTC) and others. As a result, many groups formed to inflate the price, promote the altcoins to others and sell their shares. Most importantly, this is not a new scam. In the “Dot Com Bubble,” there were many “Pump and Dump Stock Groups” that was taken down by the Securities Exchange Commission.
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Will Bitcoin Cash & The Game.com Coin Continue To Rally?
Speculating on the cryptocurrency market is tough. Above all, we expect to see a lot more volatility in all of the altcoins, including Bitcoin Core. That said, a small alternative coin like Game.com ($GTC) will most likely retrace over the next few days. In contrast, the more substantial cryptocurrencies like Ethereum, Litecoin, BTC Cash, and Ripple may backtrack a little. However, we hope to see a bull market shortly.