Cryptocurrencies: 2788 / Markets: 19401 Market Cap: 24h Vol:
4 months ago

Bitcoin in the Red Today, Altcoins Get a Shot to Shine.

After bitcoin’s break to the 8000 dollar level in the market period yesterday, it has soon dropped but still hovers close by.  Other coins are easily luring investors to put money on them as they are the relatively cheap alternative cryptocurrencies.

BTC has returned to levels just below $8, 000, down by 2% and is at exactly $7940 as of writing. Bitcoin market value had jumped to a 10-month high of $8,335 in the early European trading hours yesterday. A minor pullback to lows near $7,600 in the U.S trading hours slowed down the rally.

Some other top-ranked coins like ether (the second largest cryptocurrency by market value)  rose to $235 on Bitstamp, its highest level since October last year as Bitcoin slightly tires out into the red. Ether went up 12 percent and is well above $230 in trading now. From the last 24 hours, XRP – another prominent cryptocurrency --has shown stronger performance than Ether. XRP’s market value hit its highest mark since December last year at $0.45 earlier today, which is up about 10%. XRP could swim some more in the green area and attain a $0.50 value or more soon.  Project Pai, ranked among the top 100 cryptos, has shown great performance in the last 24 hours as well.  With its rise to 28 percent in the day, it is currently the best performing top 100 cryptocurrency. Tezos (XTZ) went up 21 percent and stamped near $1.68 earlier today, a level it has not got to in six-month; it reportedly is the second-best performer in the top hundred today.

As much the numbers don’t reflect significant beat down of the cryptocurrency ‘king’, Bitcoin, it marks some progress for altcoins; the progress that may not have been seen by some in a long while. This gives a chance for investors’ money to touch other coin soil other than Bitcoin’s. Notably, the cryptocurrency market is any crypto’s stage to shine.


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Bitcoin Price rises above the $6000 mark for the first time in months.



Credits - Omkar Godbole

Anita O.

Lover of tech and blockchain.

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