####Ark Price Rises by over 40% Despite Bearish Market
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There is a lot of interesting momentum in the cryptocurrency world today. All of the top markets are subjected to bearish pressure, yet further down the rankings, things are getting a lot more interesting. The Ark price is on a whole different level all of a sudden, although one has to wonder how things will evolve once this initial excitement quiets down.
ARK Price is Soaring Hard
In the altcoin industry, a correlation with Bitcoin can either work in favor of the currency or cause major problems down the line. While it is evident most of the altcoins are going through a bearish phase of their own, Ark is doing things on its accord. To put this into perspective, Ark is rising value whereas other markets are subdued. A remarkable development, but it may not necessarily remain in place for very long.
Over the past 24 hours, there has been an apparent 40% increase in Ark’s value. This rise affects both the USD and BTC value of this altcoin, which brings the value to $0.58 or 15,975 Satoshi. This is something that will please a lot of traders, especially when considering this coin generated nearly $19m in trading volume. Quite a remarkable figure, especially when considering how the total market cap sits at $63.19m.
On social media, there are a lot of interesting debates regarding cryptocurrencies and Ark in particular. CryptoStranger is not too pleased with how this altcoin is rising in value. The discrepancy between Bittrex and Binance is pretty strange, although one has to keep in mind the volume on Binance is significantly higher compared to Bittrex. It is a bit easier to influence the value on Bittrex in this regard, thus it is only normal Binance isn’t following that trend.
When looking at the Binance price chart for Ark, it quickly becomes apparent there has been a sharp rise, met with a brief correction, and a new uptrend following shortly after. As such, there is a chance the 17,000 Satoshi level will be reached in the end, but it might take a while until that happens on this trading platform. A peculiar trend well worth keeping an eye on moving forward, albeit it might not please some speculators.
It is pretty interesting to see how individual altcoin markets respond to these challenging market conditions. Whereas Ark is soaring, it seems Pundi X is dropping quickly again. As such, there will be plenty of market action well worth keeping an eye on throughout today, although it may not necessarily yield any significant profits.
As is always the case when any crypto market notes an incredibly bullish trend, there will be some repercussions sooner or later. Considering how there is a net 40% increase for the Ark price right now, it seems unlikely there will be a further uptrend in quick succession. However, this market has plenty of trading volume and many people who bought the top. As such, anything can happen over the coming hours.