As of today, most of the top twenty cryptocurrencies show slight gains at press time and in today’s altcoin news we take a closer look at the price analysis.
Bitcoin, for example, is going towards the $4,000 price point according to the CoinMarketCap data. The number one cryptocurrency is just down by one percent over a period of 24 hours, hovering above the $3,961 price point according to the data. By looking at the weekly chart, the current price is slightly higher than when it was at the start of the week at $3,928.
As DC Forecasts previously reported, Thomas Lee, the Fundstrat Global Advisors co-founder, gave his own forecasts on the crypto market fluctuations by saying that the market has a chance of making a U-turn at the end of August.
On the other hand, we have Ethereum holding its position among the top 20 altcoins by market cap of $14.5 billion. ETH is up by three percent over the past day and is currently trading at around $138 after starting the day at $133. On the weekly chart, we can see that Ethereum has seen its value go up by less than a percent. It also reported a mid-week low that reached $130 on Tuesday.
Vitalik Buterin explained earlier this week that the blockchain applications that are outside of the finance world have trouble gaining traction because they offer decentralization as a primary value.
The second-largest altcoin Ripple managed to increase just a little under a percent in the past 24 hours and is now trading around $0.314. By looking at the weekly chart we can see that the current price is just a little above a percent which is actually a higher point from the beginning of the week.
Ripple’s developer ecosystem project Xpring partnered with a gaming blockchain platform Forte and established a 100 million fund in order to help developers and to support the game.
The total market cap of all cryptocurrencies reached $137 as of today, going up by 2 percent since the value a week ago.
On the traditional side, the stock markets also are experiencing some growth after Nasdaq reported gains of 1.05 percent and S&P 500 reported 0.67 percent gains.
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Galaxy Digital ‘Bank’ Cashes Out Of Block.one Investment With 123% Profits
“The acceptance of Block.one’s tender offer reflected a decision to rebalance the portfolio to maintain an appropriate level of diversification after the position increased due to its substantial outperformance relative to the remainder of the portfolio,” Novogratz then said.As the filing shows, Galaxy Digital Bank can attribute much of this loss to its principal investing and trading businesses, presumably due to the fact that November and December saw Bitcoin and many other coins falling to fresh lows, as the altcoin news showed. The filing notes that Galaxy Digital Bank is primarily founded by Novogratz's wealth, 20% of which is purportedly invested in Bitcoin and Ethereum. Even though the company lost $272.7 million in all of 2018, much of the losses were incurred as a result of sale of cryptocurrency. One Twitter analyst also went in detail on this. https://twitter.com/zhusu/status/1126394118093950983 However, this is not the end of Novogratz & co. The report revealed that as 2018 ended, Galaxy Digital Bank owned $350 million of assets, 50% of which constituted equity/stake in prominent industry startups. More importantly, Galaxy Digital announced the launch of another fund (rumored with hundreds of millions in funding) which will loan out capital to cryptocurrency firms - a business which has boomed during the 2018 bear market - as the latest cryptocurrency news show.
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Bitcoin SV (BSV) Doubles In Value After The BTC Copyright Claims
“BSV doubled on Craig’s copyright news. This is only the start of him proving BSV is the only bitcoin. Now is a great time to convert all your other shite coins to Bitcoin.”However, as reported in the latest cryptocurrency news, the copyright does not entitle Craig Wright with any exclusive rights on Bitcoin. It seems as the big pockets are pouring and pumping the Bitcoin SV market to confirm the ‘’we-are-the-best’’ slogan. A massive 200 price surge is one of the reasons why traders should restrain themselves from buying the high or the lower lows. The Bitcoin SV (BSV) price corrected up to 53 percent before establishing a historic high at $195 on Huobi. The market bias is currently bullish and the majority of the technical indicators signal the strong buying sentiment. With the flawed fundamentals, a dump right now should not surprise the market.
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