Cryptocurrency markets experience big rise – bitcoin over $7400

Cryptocurrency markets experience big rise – bitcoin over $7400.

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Gerald Fenech

gerald.fenech@trjio.co

The cryptocurrency markets finally appear to be in recovery mode as of Wednesday morning when all the major coins posted considerable increases with most in the double digits.

Bitcoin shot upwards in a considerable trajectory gaining the $7400 mark in just under an hour. At around 6 pm CET on Tuesday, the currency was over the $7000 level having traded in the $6650-6750 mark for most of the day. Then, a huge push came with the price spiking by five percent in a few minutes to gain the $7100 level following another similar gain to the $7400 level on Wednesday morning.

Bitcoin cash also shot up by around ten percent to reach the $870 level confirming that the latest news of payment gateways and applications which are adopting the coin are having a positive effect on the price. Turnover seems to have increased exponentially too.

Ethereum breached the $500 level

Xrp finally broke through the $0.50 barrier after having been well below that mark for several weeks with the price at around $0.51 at press time on Wednesday.

Eos was up by over ten percent and was trading at around $8.75 at press time on Tuesday evening – a significant rise of 30 percent over 48 hours.

Ethereum also saw a considerable rise although the increase was a more modest five percent, still enough to breach the $500 level. Ether is now up by around 15 percent over 48 hours where it was testing the $400 level only a couple of days ago.

Smaller currencies also had a boost

Smaller market cap currencies also had an impressive boost with cardano leading the way and jumping ten percent to well over the $0.168 level. Ethereum classic posted slightly more moderate gains but still was trading at very close to the $18 level whilst dash jumped eight percent to the $260 level.

Litecoin was up six percent to the $92 level whilst coins such as ontology and iota posted more moderate gains of three and five percent to prices of $3.85 and $1.14 respectively.

Asset: Price: % (24h)
Bitcoin $7 348,56 +9,38%
Ethereum $497,72 +4,71%
Xrp $0,506324 +6,65%
Bitcoin cash $857,85 +8,00%
Eos $8,77 +10,27%

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