Most of the major cryptocurrencies are showing a mix of gains and losses but Bitcoin is hovering again over the $3,470 price mark according to the latest weekend charts that we are analyzing in today’s bitcoin news.
Bitcoin (BTC) was down yesterday by a half percent and traded at around $4,489 and is now down at $3,467. Its price went down by 3 percent lower since the start of the week.
Ripple (XRP) on the other hand has lost about a percent in the past 24 hours and is currently trading at $0.306. Its price is still lower than $3.316 which is the price that XRP was at when the week started. The current price is also lower than the $3.333 price point when XRP reached its mid-week high.
Ethereum (ETH), which is still the second-largest crypto by market cap, reached a price increase by a half percent over the past 24 hours and at press time is trading around $108. According to the weekly ethereum charts, the cryptocurrency’s value has dropped about 7 percent from $117 which was the price range at the start of the week.
Other coins despite the top 20 ones are also experiencing huge changes over the past 24 hours such as Monero going down by 4 percent and Binance Coin increasing up to 3.40 percent at the same time.
The total market capitalization of all cryptocurrencies is currently at $114.3 billion which is 5 percent lower from the value seven days ago.
If we take a look at the traditional markets, S$P 500 has slightly increased while the Dow Jones Industrial Average also experienced slight gains. The price of oil has increased by 3 percent while all of the Venezuelan tankers are still stuck at ports.
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“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
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