Yesterday saw Bitcoin continue to bounce around the $8,400 area, while several altcoins in the top twenty by market cap saw modest gains.
Bitcoin price bouncing around $8,400 as altcoins rally
Several major cryptocurrency markest were seen recording mild gains yesterday within a tight range of 10 – 2%. However, the altcoin sitting at the number eight spot is the only top twenty coin which stands out as it surged by more than 7.5% during twenty-four hours.
Once again, bitcoin’s price has been bouncing between support at $8,300 and $8,400. The world’s number one crypto was seen trading from an intraday low of $8,330 to as much as $8,425, recording modest gains during the past day.
At the time of writing Bitcoin (BTC) is down by 0.29% and trading at $8,329.97 as per data from CoinMarketCap. As it seems that bitcoin could be gearing up for a big move, Tim Draper, a billionaire investor believes that Bitcoin will change how governments work globally.
He cited bitcoin as “the startup currency” and also stated that BTC could ultimately unite the world:
“With Bitcoin and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. […] In the long-term I believe with regard to business and economics, we are, more than ever, one world.”
Altcoin markets report minor gains
The worlds number two cryptocurrency, Ether (ETH) fell back once again, hitting an intraday low of $180 before steadily climbing back to its current price of $183.22.
Ripple’s XRP saw some positive indicators yesterday, with gains of 3% over 24 hours. At the time of writing, XRP is up by 3.31%, trading at $0.284424. Over seven days, XRP has spiked by close to 7%.
Recently, Ripple combined three of its services into features on its RippleNet offering. A Ripple spokesperson at the time stated that now “instead of buying xCurrent or xVia, customers will connect to RippleNet — on-premises or through the cloud — and instead of buying xRapid, clients will use On-Demand Liquidity.”
At the time of writing, most of the top twenty cryptocurrencies are seeing modest gains on the day, with TRON (TRX) and Cosmos (ATOM) leading the charge with price gains of 4.88% and 3.40%, respectively.
Remember to check in again at 14:00 for your daily cryptocurrency news and prices.