Even though some of the cryptocurrency markets are dipping in the red right now, the overall uptrend is still intact. Over the past 24 hours, we have seen the Bitcoin Private price going up even further, despite a very solid uptrend for most of last week. Right now, one BTCP is valued at just over $56.
Bitcoin Private Price Trend Continues
Even though it remains unclear why people are effectively buying Bitcoin Private other than for speculative purposes, the value of BTCP continues to rise as we speak. After a very solid week last week, it seems the uptrend is still in place as we speak. With another 8.6% increase over the past 24 hours, the Bitcoin private price seems on its way to $60.
In the past seven days, the Bitcoin Private price has more than doubled. with the price rising from just over $24 to $56.18, people who banked big on this currency made a lot of money. All of this is happening despite the low trading volume for BTCP, which has been present for quite some time now. That in itself remains a worrisome aspect, but there’s not much that can be done about it as of right now.
Despite the odds, BTCP is also rising in regards to Bitcoin. More specifically, the BTCP/BC ratio has increased by 8.57%, which is rather interesting to keep an eye on. Even so, we see most altcoins note some strong gains over Bitcoin even though the world’s leading cryptocurrency has remained remarkably stable after a positive uptrend.
As mentioned earlier, the Bitcoin Private trading volume is lackluster. More specifically, just $2.5m in trades have occurred over the past day, which is virtually nothing in the world of cryptocurrency. Despite this lack of volume and interest, Bitcoin Private now has a market cap of over $1.146bn, which is a lot higher compared to what most people had expected.
Similar to last week, Trade Satoshi is still the place to be when it comes to buying and selling Bitcoin Private. That platform has four trading pairs in the top 6, with Nanex in second place and Exrates in fifth place breaking things up a bit. No fiat currency markets are present in the top five right now, which is not entirely surprising given the lack of interest in this altcoin.
How all of this will play out for the Bitcoin private price, remains unclear. The lack of trading volume is a bit worrisome, yet that hasn’t prevented people from pumping the Bitcoin private price in the past week and a half. Even so, this price pump will eventually come to an end and result in a massive correction. For BTCP, its “realistic” price is closer to $30 than it is to $60m but rationale is often hard to come by in the cryptocurrency world.