After a week-long rally of alternative digital currencies, Bitcoin is all set to gain the price momentum. Finally, the price momentum seems to take a shift from alt coins to Bitcoin as BTC already breached the level of $16,000.
In last few days, altcoins such as XRP, XEM, ADA, XLM saw a huge price surge but drastically dropped on January 5 where XRP saw a drop of over 14%, XEM with 8.50% fall, ADA with 15% price drop.
Such move in Bitcoin is mainly due to significant depreciation in Ripple’s XRP tokens that happened after Coinbase gave clarification on Ripple not to list on its exchange in near future.
This collapse is actually helping Bitcoin to chase the future level of $18K in coming days.
If Bitcoin cut through resistance at $16,490 then there will possible chances for BTC’s value to move towards the heaven spot of $18500 over the weekend.