Berichten

Chatter Report: Vitalik Doesn’t Believe in Proof of Work, Chris Pacia Discusses Big Blocks

,

In this latest roundup of crypto chatter from social media, Vitalik Buterin sparks debate by declaring that he doesn’t believe in proof of work. Also, developer Rhett Creighton is accused of foul play in the Bitcoin Private pre-mine scandal. Finally, Chris Pacia clarifies his stance on large block limitations.

Also read: A Look at Some of 2018’s Most Popular Cryptocurrency Traders

Vitalik Doesn’t Believe in Proof of Work

Ethereum founder Vitalik Buterin turned a lot of heads recently when he tweeted to Bitcoin maximalist Giacomo Zucco that he doesn’t “believe in proof of work.”

Crypto Twitter erupted with responses. One commentator, Crypto Domains, pointed out the ridiculousness of Vitalik’s comment, comparing it to not believing “in oxygen.” Crypto Domains’ remark resonated widely, not least since Ethereum itself currently runs on a proof of work model.

Bitcoin Community Skeptical of Rhett Creighton

The Bitcoin Private team recently released an official statement explaining that they had no prior knowledge of the BTCP coins that were covertly created during the fork that birthed the project. Instead, they were mislead by developer airk42, they insist. Airk42 had started out innocently by accepting a bounty the team had placed. He then managed to became a BTCP developer and was promoted to contributor on Github. However, when airk42 merged his own code, he left out one crucial line and a bad actor exploited this bug, creating approximately 2 million additional coins.

Many in the cryptocurrency community were suspicious of the BTCP team and their official response. In a recent live stream by bitcoin trader Tone Vays, developer Jimmy Song pointed out that former BTCP developer Rhett Creighton left the project in a rather cryptic manner that foreshadowed the hack.

Likewise, Vays expressed skepticism at Creighton’s sincerity and quickly theorized that he may have secretly been airk42. Cryptocurrency trader Nick Core also agreed with Tone, explaining that scammers are prone to “leave projects before they are finished.”

Chris Pacia Clarifies Tweet on Blocksize Limitations

Bitcoin commentator u/satoshi_vision 1 recently called out Openbazaar developer Chris Pacia on the r/bitcoincashSV subreddit for Pacia’s comments that bitcoin software will start to break down when blocks reach about 22 MB in size. u/satoshi_vision 1 was criticizing Pacia, as Coingeek had mined a 64MB block at block height 557335.

We were told by Chris Pacia that 22MB blocks would not work, not we have blocks nearly 3x that size. from bitcoincashSV

Pacia was unable to defend himself on the subreddit, as he had been banned from participating on r/bitcoincashSV, despite never having commented on it before. Instead, Pacia took to Twitter to defend himself, explaining that his tweet wasn’t about the ability to mine a single large block.

Rather than large single blocks, Pacia was referring to the ability to mine many large blocks in tandem. He then went on to point out that the average blocksize over a one-hour period never went above 7 MB when BSV was mining 32 MB blocks.

What do you think of Vitalik’s thoughts on proof of work? Let us know in the comments below.


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Chatter Report: Vitalik Doesn’t Believe in Proof of Work, Chris Pacia Discusses Big Blocks appeared first on Bitcoin News.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches

,

Most cryptocurrencies took a hit on Christmas Day, losing between 5-10% after having a decent run of solid gains last week. Some traders had assumed digital asset markets would be rather dull during the holidays, but the correction was deep and fast. At the moment, the entire cryptocurrency economy is worth $126 billion as traders are curiously waiting for the next big move.

Also read: Year in Review: 2018’s Top Cryptocurrency Stories

Crypto Markets Show It’s Too Soon to Call the Bottom

Cryptocurrency markets have consolidated a little after taking some deep losses during the early morning hours of Dec. 25. Global trade volume for the entire ecosystem of digital assets had dropped a few billion since last week’s price spikes, and bulls are starting to show signs of exhaustion. This Wednesday, the combined valuation of all 2,000+ cryptocurrencies in terms of 24-hour trade volume is roughly $17.4 billion. Bitcoin core (BTC) is trading for $3,792 at the time of publication and its markets are capturing $5.4 billion worth of today’s crypto trades. BTC is down 0.14% over the last 24 hours and down 1% for the week. The second largest market capitalization is commanded by ripple (XRP) which is trading for $0.36 per coin. Ripple markets are down 1.7% over the last day and are down 1.5% for the week.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Top 10 cryptocurrencies on Dec. 26, 2018.

Ethereum (ETH) has had a much better run over the last few days, with ETH markets up 0.55% today and 21% during the course of the last seven days. ETH is trading for $127 per coin and has a total market capitalization of around $13.2 billion. Lastly, the fifth biggest market valuation is still held by eos (EOS), where each token is swapping for $2.52. EOS has a $2.2 billion market cap and is up 1.8% today but down 3.9% for the week.

Bitcoin Cash Market Action

Bitcoin cash (BCH) markets are still doing very well this week after last week’s phenomenal 140% gains. BCH is still up by 32% over the last seven days and markets are up 3.2% in the last 24 hours. At the moment, BCH is trading for $168 per coin and the market has an overall valuation of about $2.9 billion. Trade volume is about $100 million lighter than a few days ago as today’s global BCH trade volume is around $551 million.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Bitcoin Cash (BCH) daily chart on Wednesday.

The top five exchanges swapping the most bitcoin cash are Lbank, Binance, Huobi, Coinbase, and Hitbtc. Lbank and Binance are capturing about ⅓ of today’s BCH trades. The top currency today paired against BCH is tether (USDT), with 47.3% of trades. This is followed by BTC (20.9%), ETH (16%), USD (7.4%), JPY (3.9%), and the KRW (1.9%). Bitcoin cash is the sixth most traded cryptocurrency on Wednesday above litecoin but below the volume of ripple.

BCH/USD Technical Indicators

Even though there was a sizeable dip the other day, a few indicators on the charts still look bullish. Looking at the four-hour BCH/USD chart on Bitstamp shows the two Simple Moving Averages will be crossing hairs very soon as the 100 SMA may rise above the longer term 200 SMA. For now, the path toward the least resistance is still the downside, but in the near term it looks like a trend change may appear.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Bitstamp BCH/USD 4-hour on Dec. 26, 2018.

Right now the Relative Strength Index (RSI 4-H -44.96) is meandering in the middle, indicating more uncertainty. The Holidays may be inflicting a slight lull as the stochastic reports the same findings over a broad set of trading ranges. Looking at the order books shows bulls need to muster up more strength to penetrate the $200 region again and gain headway. On the backside, bears will see pit stops all the way until the $150 range and a few more speed bumps if it falls below that price zone.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Bitstamp BCH/USD 4-hour window.

The Verdict: Uncertainty Remains Strong

This week has seen traders perusing ideas on Tradingview, some discussions between swing traders on Twitter, and Telegram trading channels showing people think the “bottom” has not yet been reached. The dip in trade volume was to be expected over the holidays between Christmas and New Year and analyzing crypto market trade volume may not be a great source of confirmation this week.

Markets Update: Crypto Prices Begin to Slump as the New Year Approaches
Cryptocurrency & Fiat money flow over the last 24-hours on Dec. 26, 2018.

BTC/USD and ETH/USD shorts are still well above normal, but discernibly less than two weeks ago. If digital asset markets cannot hold above the 50-day exponential moving average (EMA) then traders may see even lower bottoms in the near future. Overall, uncertainty remains high for traders who won’t attempt to call the bottom. Their stance is prudent one given that price letdowns have been one of the few certainties throughout the entire year.

Where do you see the price of BCH, BTC and other coins heading from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, Coinlib.io, Bitstamp, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Crypto Prices Begin to Slump as the New Year Approaches appeared first on Bitcoin News.

A Look Back at the Top Cryptocurrency Markets From Christmases Past

,

The cryptocurrency ecosystem has grown dramatically in just a few years, with the number of crypto markets increasing from 59 in 2013 to over 2,000 today. Looking at historic snapshots of the cryptocurrency markets from Christmases past also shows a significant turnover in the leading altcoins by market cap.

Also Read: Report Finds a Strong Relationship Between Crypto-Advocates and Life Extension

Number of Crypto Markets Increases by 10x During 2014

A Look Back at the Top Cryptocurrency Markets From Christmases PastWhile many point to 2017 as the year in which the cryptocurrency markets saw their most dramatic growth, 2014 saw the number of virtual currencies increase by nearly 1,000%. As of Dec. 28, 2014 there were 506 active markets according to Coinmarketcap, up from just 59 on Dec. 22, 2013.

Despite the impressive growth in the number of active markets, the price performance of many of the leading cryptocurrencies by market cap was extremely bearish, with six of the top 10 cryptocurrencies losing more than 80% in one year.

Between Dec. 22, 2013 and Dec. 28, 2014, BTC lost nearly 50%, falling from $619 to $316. Litecoin (LTC) fell from the second ranked market by capitalization to fourth, posting an 84% loss from roughly $17.10 to $2.74. Ripple (XRP) was the only top market to gain year over year, up 7% from $0.022 to $0.024. XRP climbed from third to rank as the second largest cryptocurrency by market cap.

Peercoin (PPC) fell from the fourth largest crypto to rank 19th, posting an 81.5% loss as prices dropped from $3.12 to $0.58. Fifth-ranked namecoin (NMC) dropped to 13 with price falling 82.5% from $4.13 to $0.72. Quark (QRK) went from the sixth largest crypto to rank 27th with a price drop of 92.6%. Nxt (NXT) posted the second strongest performance among the top-ranked crypto markets of late 2013, climbing from seventh to ninth despite an 18% drop in price from $0.02 to $0.017.

At the end of 2013, bitshares PTS (PTS) comprised the eighth largest crypto by market cap with a token value of $12.45. One year later, PTS was ranked 45th after suffering a 99.99% drop from $12.45 to $0.00049. Ninth-ranked worldcoin (WDC) dropped to 53rd, posting a 98.5% loss from $0.4 $0.006. Megacoin (MEC) fell from 10th to 48th by market cap, producing a 96.8% drop from $0.52 to $0.017.

Five of the top 10 virtual currencies as of late 2013 retained their top 10 ranking the following year.

Of 2014’s Top Markets, Only BTC and LTC Posted Price Gains 1 Year Later

A Look Back at the Top Cryptocurrency Markets From Christmases PastBTC gained 32% from Dec. 28, 2014 to Dec. 27, 2015, up from $316 to trade for $416.50. Ripple was able to retain its position as the second largest crypto market despite losing 94% from $0.024 to $0.0062. Despite ending 2014 as the third-ranked crypto market, Paycoin (XPY) would close 2014 as the 48th-ranked cryptocurrency after posting a 99.6% loss from $10.74 to $0.038.

LTC gained 25% during 2014, moving from fourth to third alongside a price increase from $2.74 to $3.43. Fifth-ranked bitshares (BTS) dropped to eighth, posting an 80% loss from $0.016 to $0.003. maidsafecoin (MAID) moved from sixth to tenth, producing a 72% drop in price from $0.05 to $0.014.

Seventh-ranked stellar (XLM) finished 2015 as the ninth-ranked crypto market, falling 70% from $0.0058 to $0.0017. Despite dogecoin (DOGE) falling 23% from $0.00018 to $0.00014, doge ascended from the eighth largest cryptocurrency to rank sixth at the end of 2015. Ninth-ranked NXT fell from the top ten rank 11th alongside a price drop of 63% from $0.0161 to $0.006167. While PPC posted a yearly loss of 31% following a drop from $0.578 to $0.4, PPC ascended the market cap rankings from 10th to seventh.

Eight of the dominant markets from Christmas 2014 held their top 10 ranking as of the end of 2015. The number of active markets increased 11% from 506 to 562.

BTC, ETH, DASH, and MAID Posted Triple-Figure Gains for 2016

A Look Back at the Top Cryptocurrency Markets From Christmases PastBTC gained 111% from $416.50 on Dec. 27, 2015 to $878.80 on Christmas Day 2016, following a year of bullish action for the cryptocurrency markets. XRP posted slight gains during 2016, up 3.4% from $0.00617 to $0.00638, resulting in a drop from second to third, ranked by market cap. While LTC posted a 27% gain from $3.43 to $4.35, LTC also shifted down one rank, finishing 2016 as the fourth largest cryptocurrency.

Fourth-ranked ethereum (ETH) was the top performing market of 2016, gaining nearly 760% from $0.85 as of late 2017 to finish the year as the second largest crypto asset with ETH trading for $7.29. Despite dash gaining nearly 270% from $2.69 to $9.91 between the Christmases of 2015 and 2016, it moved from the fifth ranked cryptocurrency to seventh as of Dec. 25, 2016. Sixth-ranked doge fell from the top 10 during 2016, finishing the year as the 13th largest market after posting a 42% gain from $0.00014 to $0.00023.

PPC was the only top market of late 2015 to post a loss one year later, dropping from seventh to 38th in market cap ranking after producing a 43% loss from $0.41 to $0.23. BTS posted a 26% gain from $0.0034 to $0.0042, however fell from eighth to 25th ranked cryptocurrency by capitalization. Despite posting a 55% gain from $0.0017 to $0.0026, XLM slid from ninth to finish the year ranked 16th. Maid moved from 10th to finish the year as the eighth largest cryptocurrency following a massive 620% gain from $0.014 to $0.10.

Six of the leading markets from late 2015 maintained their position in the top 10 as of Christmas 2016. The number of active markets increased by 15% from 562 to 644.

2017 Bull Trend Drives Record Prices

A Look Back at the Top Cryptocurrency Markets From Christmases PastSanta delivered a bountiful Christmas to the cryptocurrency community in 2017, with nine of the top 10 markets posting four-figure or five-figure gains between Dec. 25, 2016 and Dec. 24, 2017.

BTC gained 1,500% last year, increasing from $879 to $14,057. ETH held its position as the second largest cryptocurrency by market cap, gaining 9,345% from $7.29 to $688.59 in a single year.

Ripple posted the second strongest price gain among the top markets for 2017, growing 17,140% from $0.00638 to $1.10. Despite the enormous increase in price, XRP slipped one rank to finish the year as the fourth largest cryptocurrency. LTC moved from the fourth to the fifth-ranked crypto asset by market cap alongside a 6,255% increase in price from $4.35 to $276.49.

Monero (XMR) moved from the fifth ranked cryptocurrency to 10th, gaining 3,455% from $9.63 to $342.43. Sixth-ranked ethereum classic (ETC) dropped to 17th during 2017, however gained 2,725% from $1.10 to $31.10. Despite gaining 12,140%, dash dropped one rank by market cap, moving from seventh to eighth.

Eighth-ranked maidsafe fell out of the top rankings during 2017, finishing the year in 55th after gaining 670% over the dollar but falling significantly against BTC. Nem (XEM) retained its position as the ninth-ranked market after gaining 24,345% from $0.004 to finish the year as the strongest performing leading market, with XEM trading for $0.88. Despite posting a gain of 2,280% from $2.89 to $68.83, 10th-ranked augur (REP) moved from 10th to 36th ranked cryptocurrency.

Seven of the top 10 markets from 2016 retained their leading rank one year later. The number of active markets increased by roughly 100% from 644 to 1,334 at the end of 2017.

All Leading Markets Post Heavy Losses for 2018

A Look Back at the Top Cryptocurrency Markets From Christmases PastBTC has dropped 70% in the last 12 months, falling from $14,057 on Dec. 24, 2017 to trade for roughly $4,230 today. ETH dropped from the second to the third ranked cryptocurrency by market cap following by a yearly drop of 77% from $688.60 to $156.80. Bitcoin cash (BCH) moved from third to fourth, accompanied by a 93% loss from $2,956 to $206.

XRP posted the weakest loss of the top performing markets over the last year, moving from fourth to second ranked market cap alongside a 60% drop from $1.10 to $0.44. LTC fell by 87% from $276.49 to $36.11 while moving from fifth to seventh by capitalization. New entrant cardano (ADA) moved from fifth to 11th this year, shedding 87.5% of its value from $0.39 to $0.05.

Seventh-ranked iota (MIOTA) now sits at 12th, following an 89% drop from $3.45 to $0.38. Dash moved from eighth to 14th this year, in the process losing 91.5% from $1,212 to $102. After ranking ninth for two consecutive Christmases, XEM appears poised to greet Santa as the 16th largest cryptocurrency, having lost 91% from $0.88 to $0.079. 10th-ranked XMR fell 83% from $342.43 to trade for $57.65 over the last year, currently positioned as the 13th largest market by capitalization.

Six of the dominant markets from last Christmas have held their position in the top 10, three of which have consistently held their leading position since 2013. The number of active markets has increased from 1,334 to 2,067 over the last 12 months.

How do you think the cryptocurrency markets will be performing next Christmas? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post A Look Back at the Top Cryptocurrency Markets From Christmases Past appeared first on Bitcoin News.

Markets Update: Bitcoin Cash Gains More Than 140% This Week

,

Cryptocurrency markets have been bullish lately as most of the top digital asset prices have seen decent gains over the last week. The overall market capitalization of all the coins in existence is roughly $132 billion this Sunday and global trade volume has increased significantly considering it’s the weekend before the holidays with $20 billion traded over the last 24 hours.

Also read: Everything You Need to Know to Start Trading Cryptocurrencies

Cryptocurrency Bulls Still Have the Reigns

On Sunday, Dec. 23 the day before Christmas Eve, there’s been more digital asset swaps than usual compared to a few holiday trading sessions in the past. Global digital currency trade volume for many of the top cryptocurrencies has increased significantly since the big drops in price two weeks ago. The top ten digital asset markets are also up in value between 2 to 15 percent over the last 24 hours increasing the general market valuation of the entire crypto-economy. Bitcoin core is up 2.6% for the day and 21.7% over the last seven days. This gives BTC a global average of about $3,991 per coin and a market capitalization of around $69.6 billion. The cryptocurrency BTC currently has $6.2 billion worth of the entire ecosystem’s $20 billion worth of 24 hour global trade volumes.  

Markets Update: Bitcoin Cash Gains More Than 140% This Week

The second highest valued market today is ripple (XRP) which is trading for $0.37 per coin and has a $14.9 billion market valuation. There’s been more than $648 million worth of XRP swapped over the last day and markets are up 3.3% this Sunday. The third highest valued market today commanded by ethereum (ETH) is up 14.5% over the last 24 hours and 47% for the week. One ETH is swapping for $128 across global exchanges and has a market valuation of around $13.3 billion. Lastly, the fifth position belongs to eos (EOS) this weekend as each coin is trading for $2.79 and markets are up today 9%. EOS markets have jumped 43% over the last seven days.

Bitcoin Cash (BCH) Market Action

The phenomenal gains that bitcoin cash (BCH) had seen a few days ago have tapered a bit but BCH gained a whopping total of 140% for the week. Today BCH is up 4.6% and each coin is trading for $197. The top five BCH trading platforms swapping the most BCH this Sunday includes Lbank, Binance, Huobi, Coinbase, and Bitbank. Bitcoin cash trade volume is fairly high today capturing $610 million in trades over the last day. BCH is the sixth most traded cryptocurrency this weekend below ripple and above litecoin markets. The top currency pairs trading with BCH include USDT (42%), BTC (21%), ETH (19%), USD (8.7%), and the JPY (4.2%). The Korean won (KRW 1.9%), and the euro (EUR 1.5%) pairs against BCH are trailing not too far behind.

Markets Update: Bitcoin Cash Gains More Than 140% This Week

BCH/USD Technical Indicators

Looking at the BCH/USD 4-hour charts on Bitstamp shows bulls have the reigns and are seemingly still going strong. At the moment there is a lot of resistance between the current vantage point and price higher than $225. The two Simple Moving Averages (SMA) still have a decent gap between them but the 200 SMA looks as though it may drop below the short term 100 SMA trendline. This would indicate that the path towards least resistance would change to the upside but for now, it remains toward the downside.

Markets Update: Bitcoin Cash Gains More Than 140% This Week

The Relative Strength Index (RSI) shows conditions are nearing overbought regions at 65.84 on the 4-hour chart. BCH bulls have shown their prowess on the 3-day chart and the percentage gains were far more than most digital assets in this time frame. The Moving Average Convergence/Divergence (MACd) has been dipping downward at the time of publication and shows room for improvement over the next 24 hours. As mentioned above, order books also show bulls need to surpass the $225 range to get some better momentum. On the backside, bears will see some light resistance back to $177 but after that, there are fewer foundations.

Markets Update: Bitcoin Cash Gains More Than 140% This Week

2017’s All-Time Highs Are Still Far Away

Cryptocurrency market sentiment this weekend is far better than the last few weeks of brutal dumps and price fake outs. Although 80-90% corrections are not out of the ordinary when it comes to digital asset volatility and market declines in the past. There is still a strong amount of skepticism and pessimistic traders who feel the past few days may not be indicative of a market bottom. On the other hand, BTC/USD and ETH/USD short positions on Bitfinex have dropped considerably this week indicating that traders may not be so confident the price will drop again. Overall cryptocurrency infrastructure continues to grow stronger and well known financial institutions are clearly making moves on the sidelines. Still, it will take a large factor to drive cryptocurrencies higher in value and surpass the all-time highs of 2017.

Where do you see the price of BCH, BTC and other coins heading from here? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, Coinlib.io, Bitstamp, the Coinbase Dashboard, and Satoshi Pulse.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Bitcoin Cash Gains More Than 140% This Week appeared first on Bitcoin News.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000

,

The cryptocurrency markets appear poised to post the strongest week of trading in months, with BCH up over 115% since Dec. 16. BTC is also on the cusp of posting its strongest weekly candle since February after breaking above $4,000.

Also Read: Russian Parliament Postpones Adoption of Digital Assets Bill

BCH Price Doubles in One Week

As of this writing, bitcoin cash (BCH) has posted the strongest percentage daily performance of the top 90 cryptocurrencies by market capitalization, with a 24-hour gain of over 35%. This rally has been driven by the third-strongest daily volume in the history of Bitstamp’s BCH market.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
BCH/USD – Bitstamp – 1D

Since posting an all-time low of approximately $73, BCH has gained approximately 132% and is currently trading for around $180. Bitcoin cash has also reclaimed its rank as the fourth-largest cryptocurrency by market cap after languishing at the bottom end of the top 10 just last week.

When measuring against BTC, BCH bounced roughly 83% from a record low of approximately 0.024 BTC on Dec. 15 to now trade for 0.0434 BTC, with the last two days comprising the second and third-strongest 24 hours of BCH/BTC trading on Bitstamp.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
BCH/BTC – Bitstamp – 1D

The market capitalization of BCH is currently $2.95 billion, comprising 2.25% of the capitalization of the combined crypto market.

BTC Poised to Post Strongest Weekly Candle Since February

BTC has broken above $4,000 for the first time in 10 days, driven by gains of more than 26% in less than one week. Should BTC close the week with a gain of more than 22%, it will be the strongest seven-day candle posted since Feb. 12.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
BTC/USD – Bitfinex – 1W

After posting a yearly low of approximately $3,200 on Bitfinex and $3,120 on Bitstamp on Dec. 15, BTC has rallied back above $4,000, posting an intraday top high of $4,200 on Bitfinex and $4,100 on Bitstamp.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
BTC/USD – Bitfinex – 1D

BTC currently has a market dominance of 54% and total capitalization of $71.15 billion.

XRP Market Cap Over $15 billion

The second largest cryptocurrency by market cap, XRP, has gained roughly 32% in five days, bouncing from approximately $0.3 to currently test resistance at $0.385.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
XRP/USD – Bitfinex – 1D

When measuring against BTC, XRP appears to be producing an ascending wedge pattern, with price action consolidating at the neckline area of between roughly 0.00009 BTC and 0.0001 BTC for the past five days.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
XRP/BTC – Bitfinex – 1D

As of this writing, XRP has a market capitalization of approximately $15.25 billion, comprising 11.6%.

ETH Bounces Back Above $100

After a year-to-date low of approximately $83, ETH has rebounded 31% in roughly one week to currently trade for $112 at local resistance.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
ETH/USD – Bitfinex – 1D

When measuring against BTC, ETH has chopped between approximately 0.025 BTC and 0.028 BTC for the last two weeks, excluding a brief capitulation down to a 2018 low of 0.0245 BTC on Dec. 7.

Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000
ETH/BTC – Bitfinex – 1D

Ethereum now has a market cap of $11.4 billion and a market dominance of 8.7%.

Do you think that the cryptocurrency markets can continue to rally? Or are lower lows incoming? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Tradingview


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page.

The post Markets Update: BCH Up Over 100% in a Week, BTC Breaks Above $4,000 appeared first on Bitcoin News.