BTC Price Drops Under $7,900 As US Stock Market Records Minor Uptrend

BTC Price Drops Under $7,900 As US Stock Market Records Minor Uptrend

A number of the leading virtual coins are currently reporting moderate losses on the daily trading charts. As this happens, Bitcoin has fallen under the $7,900 price mark, for another time. Bitcoin has dropped by more than 5% on the day, and is now trading at $7,850. This is according to an information provided by CoinMarketCap. From the look of its weekly chart, the coin has dropped by more than 1.83%.

How The Market Has Been

This week, CME Group hinted that it is about to record one of the largest trading month for the trading of all the Bitcoin futures. The CME Group is the second largest international crypto exchange to have listed the BTC futures. Apart from Bitcoin, Ethereum’s operations has also been caught under radar. Ethereum is holding onto its main place as the largest altcoin based on the market capitalization. The market cap of this top crypto coin currently stand at a whopping $26.9 billion. After Ethereum, the second largest altcoin based on the market cap is none other than Ripple. Ripple, on the other hand, has a market capitalization of $16.5 billion.

Ethereum And Other Coins

According to data provided by CoinMarketCap, Ethereum has managed to go up by more than 5%. This has happened over the last 24 hours. In the past couple of hours, Ethereum has been trading at a price that is slightly above $252. Across the week, the coin has witnessed its value go down by more than 8.7%. Ripple, on the other hand, is almost 1% down over the past 24 hours. At the moment, the coin is trading in the region of $0.391. On the week, the coin went down by nearly 9.2%.

The Only Crypto Reporting Double Price

The market does not seem dry for all the virtual coins. Among the leading twenty virtual coins, there are some that have reported gains in the past couple of hours. One of such coins is the Bitcoin SV, or BSV as it is commonly known. This crypto coin has managed to increase in price by more than 25%. As reported earlier on, Craig Wright has filed the United States copyright registrations for the code and whitepaper of Bitcoin. Craig Wright is the self-imposed Satoshi Nakamoto and the BSV promoter. It is believed that Bitcoin was started by Satoshi Nakamoto, who has remained unknown for all that time. The total market capitalization for all the virtual coins currently sits at around $246.2 billion. The total market cap is less than 5% higher than the value that had been reported in the previous week.

oil futures

Oil Futures Are Also Affected

In normal markets, the stock market of the United States is witnessing a lot of gains. The S&P 500 has been able to go up by nearly 0.85%, while the Nasdaq is up by 1.08%. The volatility index of the CBOE has been able to gain 1.74% on the daily trading. The leading oil indexes and futures have also been affected. The WTI Crude has dropped by 1.43%, while Brent Crude is down 0.8%. On the other hand, Mars US has also dropped by 0.92%.

May 23, 2019

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Samantha Mitchell