Bitcoin Breaks Above $12,500 While United States Stock Market Experiences A Minor Downturn, Is There A Relationship?

cryptocurrency

Bitcoin News Today – On July 9, Tuesday, the top 20 cryptocurrencies reported mixed movements for the day. As at press time, the first digital currency, Bitcoin crossed the $12,500 mark again. It traded around $12, 545. According to Coin360, the current price rise of Bitcoin is nearly 6%. An analysis of the digital asset’s weekly chart shows that its value has moved up by about 15.64%.

Bitcoin Price Analysis – Bitcoin News Today – Bitcoin Soars As Stock Slumps

Earlier today, a Bitcoin enthusiast disclosed in a Tweet that a user sold about 7,350 BTC in a single order. As at press time, the amount of the digital asset sold on Binance, a major cryptocurrency exchange, is equivalent to about $92.2 million. This major digital currency has previously survived crashes.

Ether Price Analysis – Ethereum Price Prediction – The Largest Altcoin

Considering the market cap, Ether (ETH) still maintains its position as the largest altcoin. Currently, the cryptocurrency worths $32.9 billion. Data from Coin360 shows that over the last 24 hours, the value of this coin has increased by about 1%. Though the coin has lost almost 4.85% of its value, it was trading around $309 at press time.

The Ethereum platform generates Ether coin. The cryptocurrency recorded price gains just as Bitcoin soared.

XRP Price Update – XRP Prediction – XRP Price Prediction 2019 – XRP Records a Downturn

By market capitalization, the second-largest altcoin, XRP stands at $16.6 billion at press time. Currently, the Ripple’s coin is trading at around $0.394. Over the last 24 hours, XRP has fallen by about 1.38% and has plunged by about 3.04% on the week.

At the time of writing, Chainlink(LINK) recorded the highest price rise among the top 20 altcoins. However, the cryptocurrency is over 10% down during that period. Also, the total market capitalization of all digital currencies at that time was $348.2 billion. The value was nearly 12% higher than what was recorded a week ago.

Earlier today, Cointelegraph reported that LG, South Korean Technology behemoth, applied for a “ThinQWallet” trademark. The tech giant made the request to the United States Patent and Trademark Office. This trademark is for issuance of cyber money, transaction and settlement services, mobile banking and other services.

Smartereum.com also reported that a subsidiary of LG Corp., LG CNS, plans to apply for its proprietary blockchain platform. This project is expected to foster supply chain transparency for lunches in the schools’ cafeterias. According to smartereum.com, a few months ago, Samsung intends to launch a cryptocurrency, wallet, and other blockchain features.

Bitcoin News Today – Bitcoin Price Prediction – Downturn in the US Stock Market

Today, the US stock market has recorded slight loses in traditional markets. As at press time, the S&P 500 is down by 0.04% while the Nasdaq is up 0.38%. Contrarily, the CBOE Volatility Index (VIX) has gained 0.72% on the day at the time of reporting.

However, major oil futures and indexes are recording little gains today. As at press time, Brent Crude is up by 0.33%, WTI Crude rises 0.47%, and Mars US is up by 0.5%. According to OilPrice, the Canadian Crude is up by 0.19% and the OPEC Basket has gained 1.09% within a day.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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