BTC crosses $7000 mark

Aug 29, 2018 at 12:48 Update Date :Aug 29, 2018 at 12:48 UTC

The crypto-market has recently seen a significant recovery boosted by good momentum, as BTC managed to move ahead of the $7,000 mark, and all except 3 of the top 100 tokens show good profits by the day, as of 28 August. Among the top 10 biggest coins, growth stands between 4.5-20%. As of now, BTC is keeping a price of $7,016, gaining about 4.2% on the day.

The leading coin has seen a considerable few days if good gains after being faced with a slump around 22 Aug, following the stepped-up anti-crypto moves enacted by the Chinese government, and a brand new suite of “no”s regarding a number of Bitcoin ETFs, from the United States SEC. The weekly gains of BTC stand at a good 4.1%, and the monthly profits are also slightly up by about 9.1%.

At press time, the value of ETH stands at about $289, marking a strong 3.4% profit in the day. While ETH has still to regain the $300 mark (last seen 20 Aug), 28 Aug has seen the coin manage a decent upwards swing in price after a rather volatile week seeing the price stuck between $270 – $280. Now, ETH has recorded a 3.4 % profit on the week, while the monthly records still maintain a loss, albeit slightly lower, standing at 37.8%.

Among the top 10 coins by market capitalisation, Cardano has managed to gain more than 9% and is currently priced at $0.10. Litecoin (with profits of 7.64%) and Ripple (with profits of 7.3%) are also at solid places, currently priced at $61.88 and $0.35 respectively. IOTA currently stands as the top performer, peaking with a 19.4% gain on the day, and as of press time is priced at about $0.71.

At press time, the full market cap of all coins stands at about $230.55 billion, which marks a gain of about $15 billion since Monday.

As more or less the entire crypto-market shows signs of progress and BTC keeps gaining, the US CFTC has shown reports that the bearish positions held by the BTC’s non-commercial contracts are also lowering.

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