Bitcoin Shows Recovery, Gains Rise Up to $5600

Nov 19, 2018 at 19:00 Update Date :Nov 27, 2018 at 09:51 UTC

On Sunday, Nov 18, Bitcoin and other major cryptocurrencies, after an intensive week of up and downs, are showing a sign of good recovery. The leading cryptocurrencies have risen by 1 to 7% in recent days.

Bitcoin, on November 14, showed a decline in the values, however, the situation on November 18 was different; with Bitcoin touching the increment of gains to $5600. As per the reports of CoinMarketCap, the leading crypto Bitcoin, on November 14, was trading close to $5600, which is around 0.9% rise on the same day.

Some people predicted that the previous week would impact the Bitcoin Cash hard fork. While some of the analysts said that the hard fork fallout, along with the suffering crypto market, will lead to falling in the Bitcoin value; low up to $1500.

The former Congressman of the United States conducted a poll on Twitter, where around 50% of the respondents chosen Bitcoin as their preferred storage asset. They said if over the next 10 years they have to invest their money in any asset, then they will choose Bitcoin as one.

Growth Chart of Ripple

Other cryptocurrency Ripple (XRP) shows a growth of 7.3% on the same day. As per the press reports, the asset, on November 18, was trading at $0.517. Ripple, on Thursday, had overcome Ethereum as the largest Altcoin in terms of market capitalization.

Ripple, with a market share of $20.8 billion – more than Ethereum ($18.2), is rocking with its great performance. It has overcome the losses of global market fall that occurred on November 14. At that time, it was at low $0.511. Ripple, as of now, is showing a monthly growth of 14.6%.

Hard Fork’s Impact on Ethereum

On the other hand, Ethereum is also showing a growth up to 0.3% on the same day. The last week for Ethereum was even worse than Bitcoin, as Ethereum showed a 16% decline. The crypto had shown a drastic change in the values, which led the asset to 15% down for the month. On November 17, the intra-month low of Ethereum was $173, whereas, on November 7, the intra-month high was over $221.

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