Top 10 Cryptos Show Signs of Bullish Run Next Week

Not much has changed for most cryptocurrencies over the last few hours. Bitcoin is, together with Monero, the only currency in the top 10 noting a small loss, whereas most other coins have stabilized or regained a portion of their losses. Considering how the weekend is often a dreadful period for cryptocurrency trading, this overall trend is rather positive. The total crypto market cap is headed toward US$90B, which is also a positive sign.

Cryptocurrencies Prepare for a Strong Week

It seems evident that most of the top 10 cryptocurrencies are positioned well for some notable gains over the next seven days. Even though we will see one Bitcoin hard fork materialize on August 1st, it is doubtful this will harm the price in a negative manner. Do not be mistaken in thinking Bitcoin Cash tokens come free of charge, though, as they may effectively subtract value from the actual Bitcoin price until the market stabilizes.

That being said, we do note the Bitcoin price has dipped a whopping 0.19% over the past 24 hours. That in itself means very little as far as the world’s leading cryptocurrency is concerned. In fact, as long as Bitcoin doesn’t move by 5% or more over the course of 24 hours, there is absolutely nothing to be concerned about. A minuscule change such as this one means absolutely nothing.

Despite the Bitcoin price “dip”, most altcoins have been doing quite well. Ethereum has finally been showing some signs of life after weeks of declines. The 5.67% gain of the past 24 hours is quite substantial, and its price seems to be headed toward US$200 once again. It is still a far cry from US$400, though, and the currency is not out of the woods just yet. Future value declines may still come into play for Ethereum, as there are still some funds in circulation which could be dumped across exchanges in the near future.

Other top currencies are showing small gains as well. Litecoin is up by 189%, whereas NEM, Dash, and IOTA all report gains below 1%. The big winners are XRP — up by 3.47% — as well as Stratis — up by 2.99% — and Ethereum Classic, which increased by 1.45%. The bigger question is when people will realize Ethereum Classic is the true, immutable Ethereum chain without SEC scrutiny, highly controversial ICOs, and a blockchain which can be rolled back when founders’ money is at stake. Only time will tell whether the ETH/ETC correlation will ever see proper momentum, as for now, all the hype and focus is still in Ethereum’s camp.

What is rather surprising is how Monero is the only top 10 currency to note any losses other than Bitcoin and Monero which lost 6.41% of its value overnight. There is no real reason for this sudden downturn other than people speculating on the other currencies and trying to make a profit. Monero is still a very powerful cryptocurrency with honest developers who aim to provide anonymity to all users. Then again, a price of US$40.65 per XMR is still more than fair, all things considered.

Looking at the individual cryptocurrency market caps, it is pretty obvious Bitcoin will remain the undisputed leader for some time to come. As a result, the Bitcoin Dominance Index has gone back above 50% and currently sits at 50.5%. Not too long ago, that percentage was headed toward 40% and lower, but it seems the market has finally come back to its senses. There is no other currency capable of rivaling Bitcoin right now; that much is evident.

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  • Martin Klauser

    Litecoin, Waves , Stratis , ANTshares, Monero, Zcash , ZCoin, pivX is my retirement funds 😛

    • Will

      Solid selections. I’d add EOS to that list though.

    • JO89

      Iota will render all blockchain tech obsolete. Mark my words.

      • Alpesh

        I agree

      • MatrixMan

        Unless you want to pay anonymously, in which case you’ll use Monero 🙂

        • RonaldI

          Sorry, newbie question: You guys seem experienced. I googled, but what site would you reccomend to buy cryptocurrencies? I have some bitcoins already, but like to exploit in newer products. What would you reccomend?

          • MatrixMan

            You can try Bittrex, Bitfinex or Poloniex exchanges if you’d like to play with other cryptos.

    • MatrixMan

      I was holding only BTC, LTC and ETH, but I added Monero to my portfolio recently. Considering the “stealth” technology it offers, it’s way too undervalued in my opinion.

  • Paul A. Lyskawa

    Interesting take. I believe whatever BTC gains we see before the 1st, will nearly evaporate and we’ll see the alts jump up. The volume yesterday alone almost has to be due to the upcoming fork.

  • Ethereum Kev

    ETC is trash.

  • emptiness

    A good article JP. Those sudden movements are typicall for cryptocurrencies therefore I’m not surprised if we would witnesses next similar jumps in their price 😉

  • emptiness

    Less than two weeks have passed and at the moment we have reached a new peak on bitcoin and my favorite currency Monero has also earned interesting profits even though it still has enough to catch up and the space to grow it is big

    • MatrixMan

      I agree. My bet is that we’ll se a spike in Monero’s price very soon.

      • Pathuge

        Hopefully you’re right

        • MatrixMan

          I hope so, because I bough some more XMR yesterday 😀

  • godfish

    Bitcoin is and always will be the one, father of all. Besides Bitcoin, you shall focuse on Steem, the swift community altcoin that will be used for daily purposes by many poeple, and Monero.

    Monero is a great investment opportunity and perfect for anybody who dislike being stalked by the Big Brother.

  • Arslada

    MONERO is my altcoin number one and other altcoins in my portfolio are LTC, ETH. My opinion is that Monero will use still more and more people and because of that Monero will multiply his value many times.

    • MatrixMan

      You are probably right. Also Monero’s development seems to be progressing very well, so we will most likely see quite a few new features very soon. And according increase in price, of course 🙂

      • Arslada

        You’re right. I also have read about this recently. That’s perfect for all of us who hold Monero. Crypto which makes everything for his own progress mean his value will grow up. I’m happy that I invested my money exactly to Monero.

  • george_M

    it´s a good article

  • MatrixMan

    Today, Monero is the only one crypto from the Top 20, which is rising (except that Bitcoin cash speculative pump&dump crap), already over $50 again. Maybe it’s a beginning of some bigger rise?

  • Lovely Sharma

    Nice article. Monero is my short term cha ching, Ether long term and need to watch bitcoin for that sell moment as the tech is getting old.