Bitcoin Pulls Back as Investors Take Profits

Bitcoin has pulled back from highs, dipping into the upper $15K handle which marks the corrective phase of the Elliott Wave. Although many Altcoins also appear to be in the same cycle, as investors appear to be taking profits, some notable exceptions, including Bitcoin Cash and Ethereum Classic have driven up the index, which is confirmed by the Altcoin Spread, which has only recently found its way back to the favour of the Altcoins.

Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!

For daily commentary on cryptocurrencies, subscribe to our newsletter!