There is still a lot of uneasy market momentum where cryptocurrencies and digital assets are concerned. It is very easy to simply look at the negative, rather than seeing what may turn into a positive moving forward. The Bitcoin Private price, for example, is firing on all cylinders whereas other markets continue to struggle. That is a rather peculiar trend to keep an eye on moving forward.
Bitcoin Private Price Surge Makes Little Sense
It has been a while since anyone effectively discussed the Bitcoin Private currency in any manner. While this altcoin is still around with a market cap of $44m, it remains a bit unclear which direction the project will head in exactly. The project has not gained any real recognition among merchants or other service providers in recent months, which would also explain why this altcoin has just $79,000 in 24-hour trading volume.
Over the past 24 hours, there has been a 12% increase in the Bitcoin private price. There is also a 15% improvement in the BTCP/BTC ratio. Although both of these trends appear interesting, it would seem most traders are not putting their money on this Bitcoin fork just yet. Instead, this market remains “afloat” but not in any spectacular fashion whatsoever.
When looking across Twitter, there are some interesting discussions pertaining to Bitcoin private right now. KuCoin, one of the more popular exchanges, has finally introduced support for BTCP. That is quite a late and interesting decision, although it remains to be seen if they will effectively open a trading pair for BTCP as well. So far, that has not been confirmed just yet.
After more then 9 months #kucoin added the #BTCP wallet to their system. By now withdrawing your BTCP from #kucoin is possible! The hidden trade link https://t.co/xvjwPHIet2 still exists. Lets pray #bitcoinprivate will trade there in the next 9 months. Its now or never! pic.twitter.com/GQqfXSNs8T
— CryptoPrivacy (@Crypto_T_Carson) December 11, 2018
On the other side of the medallion, other exchanges have seen their fair share of issues lately. More specifically, it would appear there are some issues pertaining to BTCP on the Exrates exchanges. This small altcoin exchange is struggling with withdrawals, albeit it is a bit unclear what is going on exactly in this regard. One can only hope this issue will be solved fairly quickly.
— Active O.G. (@Sus_Break4Life) December 9, 2018
There are also those who simply see the positive side of everything, even in the world of cryptocurrencies during 2018. It is certainly true Bitcoin Private has not had a red candle for several weeks now, primarily because hardly anyone is even trading it. Even so, it makes this currency a bit unique when looking at the bigger picture. Whether or not that is a selling point, is a different matter altogether.
— Crazy Rich Bitcoin Private (@Btcp_id) December 11, 2018
Despite noting some very impressive statistics, it is evident Bitcoin Private is not a liquid trading market. As such, it remains to be seen how long these most recent price gains will remain in place. Without sufficient trading volume, most uptrends come to an end fairly quickly. All it takes is one decent-sized dump to put the altcoin in the deep red. An interesting market regardless, although not one too many people should invest in right now.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.