Bitcoin Moves To Over $7,000, As Other Coins Record Mild Corrections

Bitcoin Moves To Over $7,000, As Other Coins Record Mild Corrections

As by Sunday, May 12th, several virtual coins had reported moderate losses. However, as all these happened, Bitcoin continued to soar above the $7,000 mark.

Bitcoin’s Current’s Situation

At the beginning of the day, BTC was trading at $7,040. This is according to a report by CoinMarketCap. Even though it has managed a price that is above $7,000, the coin has dropped with more than 6% from its Sunday mid-day high of $7,500. From the weekly charts, the coin has managed to go high by almost 22%, which is a good indication.

How Ethereum Has Traded

Ethereum is still rated as the largest altcoin when it comes to the market capitalization. Its market capitalization currently stands at $20 billion. Ripple is the second largest altcoin by market cap with $13.4 billion. Over the past 24 hours, Ethereum has dropped by more than 2.25%. The coin is currently trading at a price that is in the region of $189. Within the week, the coin has witnessed its value grow by more than 16%. Just recently, Messari Ryan Selkis, who is a CEO to one of the best crypto analytics company had some prediction in regards to Ethereum. He had foreseen that the coin’s version of 2.0’s transition too proof-of-stake will not occur until 2021. Ripple is down just a fraction of percent over the past 24 hours. At the moment, it is trading in the region of $0.317. The coin was able to rise by nearly 6% over the week.

The Leading Cryptos With Highest Gains

Not all the cryptos are doing quite well. Whereas some have posted certain gains, there are quite a number that haven’t recorded tangible improvements. Among the top twenty leading virtual coins, only three have posted serious gains. One of them is Bitcoin Cash, which has recorded serious improvements over the past couple of days. The list also contains the Binance Coin – BNB. The other coin that is also in the greens is the dash – DASH. These three leading virtual coins have posted up to 2.5% price improvements in the past couple of days. This shows that there are certain crypto coins that are stil struggling to hit the record high prices.

web 3.0

The Current Total Market Capitalization

As of now, the entire market capitalization stands at $212 billion. It has been able to improve by nearly 17% higher than the value it had reported the previous week. Apart the predictions that were earlier made in regards to Ethereum, there are also others that concerns a number of other coins. Bitcoin Core has never been left out. Michael Novogratz also had a prediction about this leading virtual coin. According to the Galaxy Digital Chief Executive Officer, Bitcoin will never change the world since it is just a store of value. However, the CEO feels that there are certain applications that are posed to change the market and the entire world. He believes that the decentralized web 3.0 is placed at the best position of impacting the overall cryptocurrency market.

May 13, 2019

About Author

Samantha Mitchell