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Altcoins Rebound As Bitcoin Bulls Target $ 50,000

The bulls officially made their position clear today as Bitcoin’s price surged 4.18% to $ 49,163 and captured the attention of investors who had been waiting for (BTC) to regain the $ 50,000 mark.

The pickup in bullish momentum translated into a wave of green candles from altcoins and most tokens in the top 200 recorded gains.

The top 7 currencies with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners in the last 24 hours were Syscoin (SYS), TrustSwap (SWAP), and PARSIQ (PRQ).

Syscoin celebrates its 7th birthday

The best performing currency in the last 24 hours has been Syscoin, a platform that offers low-cost tokens, assets and NFTs secured by the hash rate and censorship resistance of the Bitcoin network.

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for SYS on August 15, ahead of the recent price surge.

The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements, and trading activity. Twitter

VORTECS ™ Score (Green) vs. SYS Price. Source: Cointelegraph Markets Pro

As seen in the graphic above, the VORTECS ™ Score for SYS turned green on August 15 and reached a high score of 72, about four days before its price increased by 96%.

The sudden spike in price comes as the Syscoin protocol celebrates its seventh year of operation and gears up for the next upgrade to Taproot, which will go live in November.

TrustSwap anticipates its NFT downfall

TrustSwap is a distributed protocol that refers to itself as a “full-service digital asset ecosystem” that offers the promise of bringing a new evolution to decentralized finance (DeFi).. It specializes in creating multi-chain token swaps and is rapidly expanding to include staking features, the ability to mint new tokens, and an internal launch pad.

According to data from Cointelegraph Markets Pro, market conditions for SWAP have been favorable for some time.

VORTECS ™ Score (Green) vs. SWAP Price. Source: Cointelegraph Markets Pro

As seen in the graphic above, the VORTECS ™ Score for SWAP had been in the green for most of the past week and peaked at 78 on August 16, about 68 hours before the price increased 51% the next day.

Excitement for the token has increased in recent days thanks to an upcoming NFT drop scheduled for August 21.

New features excite the PARSIQ community

PARSIQ, a blockchain-based analytics platform, rallied 38.53% in the last 24 hours.

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for PRQ on August 18, ahead of the recent price surge.

SCore VORTECS ™ (green) vs. PRQ price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS ™ Score for PRQ turned green on August 18 and peaked at 71 approximately 26 hours before its price rose 70% the following day.

The rapid price escalation occurred after the launching of PARSIQ’s “user-defined sequences”, which allow projects and developers to “import their contract and select for which contract events they want to enable Smart Triggers, immediately after their contract implementation.”

The overall cryptocurrency market capitalization is now $ 2.091 trillion and Bitcoin’s dominance rate is 43.7%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Each investment and commercial movement involves a risk, you must do your own research when making a decision.

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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