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article imageBitcoin seems to be in recovery mode as it breaks through $5,300

By Ken Hanly     Apr 30, 2019 in Technology
After a decline yesterday, bitcoin is starting off the week in recovery mode as it has clawed its way back over the $5,300 level and appears to be on its way upward again.
Cointelegraph analysis
Earlier today at Cointelegraph Helen Partz provides an analysis of the cryptomarket, noting that the market seems to be gaining momentum upwards with all but one of the top twenty cryptocurrencies being in the green. As her article went to press only IOTA was down around 4.3 percent but it had jumped up yesterday more than 18 percent so it is not too surprising. Litecoin (LTC) in contrast had gained over 7 percent during the last 24 hours.
Bitcoin (BTC)
Bitcoin has managed to break through the $5,300 level again. Partz says that bitcoin hit an intraday high of $5,353. She does not say what exchange her figures are from. As her article went to press it was up 1.55 percent over the past 24 hours and was trading at $5,321. However, over the past 7 days bitcoin is down almost 5 percent as are many of the top 20 cryptocoins.
Ethereum (ETH)
The second largest cryptocoin by market cap, etherium's ether (ETH) was up 2.3 percent at press time. However, over the past seven days ETH has dropped 8.36 percent.
Ripple (XRP)
Ripple is the third largest cryptocoin by market cap. It was up 5.1 percent over the past 24 hours and trading at $0.309 at press time. It is down 4.66 percent over the last 7 days.
Total crypto-market capitalization was $173 billion or up from $169 24 hours ago.
Other news
Tom Lee, founder of Fundstrat Global Advisors had another bullish prediction about crypto prices, claiming they will hit new highs by 2020.
Block-chain focuses precious metals company Tradewind hired an ex-JPMorgan Chase executive as its new CEO. American crypto exchange ErisX has launched its spot market.
Present situation
24 hours ago bitcoin (BTC) opened trading at $5,165. Since it has reached a high of $5,336 and a low of $5,130. At 19:25 Central Daylight Time BTC was trading at $5,305 according to CoinDesk data. CoinDesk uses an average from several exchanges for it figure. This explains discrepancies with figures from a single exchange.
At press time, Ethereum (ETH) was up 5.4 percent at $162.5. Ripple (XRP) was up 3.57 percent at $0.3129. IOTA was back on the upside with a gain of over 6 percent. The present price of bitcoin and the top twenty coins can be found here. At present, all but one of the top twenty cryptocoins are gaining in price.
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