Market data is provided by the HitBTC exchange.
Bitcoin has closed in the green for the second consecutive month. This is the first such instance since December 2017, which indicates buying at lower levels. However, right now the action is in altcoins. Traders are piling on select altcoins and the positive sentiment is rubbing on to the leading digital currency. In the current recovery, Bitcoin’s dominance has been steadily decreasing, which is now at 50.1 percent.
Trading interest and volume in Bitcoin might pick up after the launch of Bakkt. Though there is no word on the launch date yet, Bakkt continues to build a strong team. It has announced Tom Noonan, former cybersecurity expert at IBM, Cisco and Endgame, as the chairman of its board of directors.
During the bull phase, ICOs offer astronomical returns. But during a bear market, most of them take a huge beating. As a result, interest in ICOs diminishes. In Q1 of this year, the ICO market could only raise $118 million, a far cry from the record $6.9 billion raised during Q1 of 2018. But as sentiment improves, this market could again come alive and projects with strong use cases should be able to raise money.