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18 January 2021

Market Wrap: Bitcoin Lingers Around $19.4K While ETH/BTC Pairing Hits Bull Mode - CoinDesk

Market Wrap: Bitcoin Lingers Around $19.4K While ETH/BTC Pairing Hits Bull Mode - CoinDesk


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“I am totally convinced we are a couple of weeks into a bull market surge of as big proportions as the last one,” said Henrik Kugelberg, a crypto over-the-counter trader.

Bitcoin’s overall volatility has been creeping upward since October and traders will continue to keep an eye on that metric in this overall bull market. 

While attention seems to be on bitcoin in this market atmosphere, it’s not the only story in the crypto markets, noted Denis Vinokourov, head of research at crypto brokerage BeQuant. 

Michael Rabkin, head of institutional sales for crypto trading firm DV Chain, says bitcoin is and will remain the crypto bellwether no matter what happens to ether and that this pattern likely reflects bitcoiners will continue to offload profits into ETH during this bull run

“You will have outlier days for sure where BTC is down and ETH is up but mostly BTC drives the price of the overall crypto market, ether included.”

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