Bitcoin Holds Steady at 56000 as Majority of Altcoins Face a Decline

Altcoin skeptics encountered robust backing for Bitcoin, pushing Ethereum’s value back under $3,000 alongside MTGOX. Ethereum retreated to $2,850, while the Relative Strength Index (RSI) signaled oversold conditions. Despite the absence of sustained declines in the cryptocurrency market, a rebound is anticipated from this point. Nevertheless, lingering concerns loom over the potential impact of Germany’s planned sale of 40,000 BTC through MTGOX, totaling $8.5 billion. Persistent red flags from these on-chain indicators could lead to anomalous pricing under unusual circumstances. For the latest in technology news, visit NEWSLINKER.