Crypto Market Wrap December 3rd: Bitcoin Lingers Around $19.4K, Trending Upwards as Optimism…
December 3, 2020
Market Wrap: The price of Bitcoin is trending up. Optimism abounds that more fundamentally positive news combined with market dynamics will lead the world’s oldest cryptocurrency higher.
Michael Rabkin, Head of Institutional Sales at DV Chain and Head of Partnerships at DVeX told CoinDesk that “Bitcoin is and will remain the crypto bellwether no matter what happens to ETH.” He mentioned that when it comes to “ETH and BTC, we strongly believe that BTC is the overall market driver. 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, ETH included. Even though correlation has come down a bit over the last few weeks, as long as BTC continues to rise in price we can expect the same for ETH.”
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