The Bitcoin price rise continued on an inexorable level in the past few hours with the largest cryptocurrency by market cap trading at well over the $8,300 level on most major exchanges including Binance and OKEx. This was a staggering 8% rise in 24 hours – a move that has not been seen in months – perhaps the last time this occurred was in April when the price moved by similarly significant margins.
It does appear that the impending decision on the Bitcoin ETF is creating some anticipation with the Bitcoin price rise now close to 40% from its low in June.
Other coins also road on the Bitcoin price rise coattails with Bitcoin Cash particularly impressive with a jump of around 8% to trade at $870 at press time on Tuesday afternoon. Ethereum was also up by about 5% with the price trading at around $470. Ripple registered a minor increase of around 3% to trade between the $0.45 and $0.46 level.
EOS began a recovery after having dropped below the $8 mark on Monday but was up by around 3% to trade at $8.15 on Tuesday morning. Litecoin also showed a positive tendency and was up by around 4% to trade at almost $88 on Binance although there appeared to be some strong resistance at the $90 level.
Smaller cap coins had a mixed performance although the general result was a slight upward trend. Stellar Lumens was trading just below the $0.30 level on Tuesday morning – an increase of around 4% while NEO was stable at around $34. Ethereum Classic gained around 5% and traded at $16.50 after having dropped below the $16 mark on Monday.
IOTA slipped below the $1 mark and was trading at $0.97 while Cardano experienced the steepest drop of all altcoins with a 5% decline over 24 hours to the $0.17 level. ICX was down 6% while ONT experienced a 3% drop to trade at $3.20. Dash saw a minor 3% rise to the $244 level although low turnover could mean that a drop is on the cards.
Jay is pretty interested in the crypto space. He’s written for several publications on the topic and has lots of ideas on how the world can be made a better place with blockchain technology. He’s also a fintech journalist with some years of experience and enjoys writing about new startups, ICO’s as well as any other intriguing news that catches his fancy.