Cointelegraph analysis
An article earlier today by Adrian Zmudzinski on Cointelegraph noted that Bitcoin had risen during the day and was trading around $4,035 when his article went to press according to CoinMarketCap data. The weekly price chart for BTC showed the price was almost 2 percent higher than the $3,958 it started this week.
The CoinMarketCap data also showed that yesterday trading volume of BTC exceeded $11 billion the highest value it has seen since April 25,2018 when the price was much higher $8,845.
Other cryptocurrencies
Ethereum the second largest cryptocurrency by market cap at about $14.9 billion was up fully four percent over the last 24 hours. When the article went to pres it was trading at $141 after a start to the day of $135. The weekly chart shows its price has increase two percent from $138 a week ago. The rise has taken place in spite of a report from the BitMEX that the Ethereum Parity full node has a potential bug.
Ripple the third largest cryptocoin with a market cap of about $13.1 billion was up about 1.3 percent on the day at press time at about $0.318. Its current price is more than one percent higher than the $0.134 it was at starting the week.
Among the top 20 cryptocurrencies, Bitcoin Cash (BCH) had the highest growth over of over 10 percent. Total market cap of all crytocurrencies was nearly $140 billion at press time, or 3.7 percent higher than the $134.8 billion it was at a week ago.
Back on Wednesday a CoinDesk article noted that some altcoins were breaking out while leaving Bitcoin behind. This may indicate that the altcoin market is starting to gain some independence from the top cryptocurrency.
Present situation
24 hours ago Bitcoin opened at $3,894 according to CoinDesk data. CoinDesk averages prices from several exchanges and so may differ slightly in prices to other sources. The low was just $3,885 with the high hitting $4,033. At 16:15 Central Standard Time the price was at $3,981 up over 2 percent on the day or $86 but just below the $4,000 mark. It remains to be seen if there is to be a larger recovery rally.
Etherium (ETH) was up 2.82 percent at press time trading at $152. Ripple (XRP) was up 1.42 percent at $0.317. BItcoin Cash (BTC) was up 8.37 percent at $152.
