For almost a week now, the crypto market has been experiencing bullish behavior, though some digital currencies are more unstable than others. Bitcoin is one of those unstable cryptocurrencies, as it got to $9,300 last week, but experienced a decline and went down to $8,900, and now it is back at $9,200.
The present trading value of bitcoin is about $9,100 – which is a $200 increase from where it was 24 hours ago, but it is also $200 less than where it was last week. While a boost to the $10k mark is still considered a possibility as bitcoin is presently on an ascending plane, a decline to $8,700 is also possible if the value of bitcoin drops below its present level.
GP Bullhound (a tech investment firm) suggest an enormous correction could hit BTC, as well as other digital currencies, by the end of 2018. Also, a report was released, showing that a lot of institutional investors entered the crypto market in recent months. They are all eager to take part in the action that increased the value of bitcoin to $20k in December 2017.
The value of Ethereum has been slowly but steadily moving up. Recently, the digital currency broke the $674 level. Currently, the cryptocurrency is experiencing some resistance from a regulatory standpoint. Ethereum is facing a backlash from the Security and Exchange Commission – who doesn’t want to classify Ethereum as a “utility” but a “security.”
The current trading value of Ripple is $0.84. The xVia API solution of the Ripple has gotten the attention of a lot of fintech organizations for its ability to reduce costs and give users from across the globe access to global payment options.
The value of Bitcoin Cash is presently around $1,438. The latest increase in the value of the cryptocurrency could have been as a result of the addition of its asset to the London block Exchange, Ethereum classic was also added to this platform.