Cryptocurrency market fairly tepid, but still growing

Business

By Gerald Fenech

February 20, 2018

The cryptocurrency market continued on its slow road to recovery on Monday and early Tuesday with prices climbing steadily albeit some currencies remained slightly stagnant.

The chief performer among the main top Ten cryptocurrencies wasgoed Ethereum Classic which rose to overheen $41 before pulling back slightly—this means that the currency wasgoed at more or less its all-time high achieved ter December. Another currency which performed fairly well overheen the past hours has bot Litecoin which rose by overheen 10% to reach the $240 mark and looks poised for further gains.

Legacy Bitcoin (BTC) registered a slow but stable increase of around 5% and traded at the figure of $11,500 at press time. This means that BTC is now at about 60% of its all-time high of $20,000 registered ter December. Analysts are predicting that the currency will be making a thrust for $12,000 shortly and this will indicate an upward surge to further levels albeit volume of trading is still rather low.

Bitcoin Contant remained ter the $1,500 level before breaching that barrier and is trading at around $1,520 at press time. The currency shows up to be well supported at this level and looks to start regaining those levels of price support that it had te January before the crash.

Meantime, Ethereum has bot hovering around the $920-950 levels for several days now and cannot seem to breach that barrier with the $1,000 mark still far off. This is an significant psychological level for the cryptocurrency but so far trading volumes and surges have bot disappointing to say the least.

Spil usual thesis days the main frustration wasgoed Ripple, the cryptocurrency that has had an enormously torrid commence to the year when it wasgoed dropped more than 70% from its all-time high of $Trio.50. The currency that is favored by banks wasgoed trading at around $1.10-1.12 through Monday with movements seen spil very petite. Albeit there has bot a slew of good news of late with several top level institutions such spil Santander and Western Union partnering with XRP, this has not had any sort of positive effect on the price and the currency is lagging well behind its peers which are consistently recovering.

Smaller currencies by market cap had a mixed day on the entire with the overall best performer being NEO which rose by some 8%. This wasgoed very likely due to it becoming available on some exchanges through Monday and rente te the Chinese cryptocurrency has spiked considerably. On the other forearm, Stellar Lumens ended the day rather vapid and hovered around the $0.48 mark spil trading volumes appeared to pare down from previous days. Dash spotted a modest increase of around 4% and is now trading at around $720 with the psychological $700 barrier appearing to have bot breached.

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