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Bitcoin And Ethereum With Minimal Gains After Yesterday’s Slump

Stefan by Stefan
31/10/2018
in Bitcoin News
Reading Time: 1 min read
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ETH And BTC Consolidate, Leading Cryptocurrencies Jump, bitcoin, eth, market
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In today’s digital currency news, we have Bitcoin and Ethereum as the only top 5 coins that are in the green. After yesterday’s slump, ETH and BTC rose by less than 1% and are currently trading a bit below their stable levels.

Bitcoin is now valued at $6,336 while Ethereum is sitting at $197.

The most dominant cryptocurrency is right now up by 0.07% which is a minimal gain – however one that may lead the price to a new milestone of $6,400. The daily volume of Bitcoin is standard, hovering between the $3 and $4 billion marks, while Ethereum has a daily volume that is nearly 1.5$ billion.

What’s most crucial at this point for Ethereum is the fact that the second largest cryptocurrency must retain its $200 margin and not fall below the $190 gap, which analysts see as a downward trend. Recently, news outlets reported that the Ethereum Enterprise Alliance (EEA) released new standard specifications for developers using the Ethereum blockchain.

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After dropping to as low as $201 billion yesterday, the total market cap is $203 billion and most of the assets are trading sideways after the recent drop that took place this Monday, October 29th.

According to analysts, the recent drop-off in crypto markets is in line with a number of the industry-related events that took place this Monday, specifically the 2018 Canada FinTech forum during which a former US Federal Reserve chairman argued that Bitcoin is “anything but a useful store of value” and that the low volumes of transactions and slow capacity in “handling payments” are caused by Bitcoin’s “very decentralized nature.”

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Tags: BitcoinBlockchainethereumGainsNewslumpsurgeyesterday
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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