Thursday’s Market Landscape
On Thursday, July 25, the crypto markets were awash in green, signaling an uptick in investor optimism. Altcoins took center stage, posting significant gains as Bitcoin (BTC) broke back above the not-so-subtle psychological barrier of $10,000.
Bitcoin’s Remarkable Bounce
After flirting with a four-figure price tag during recent corrections, BTC saw a robust increase of 3.2%, bringing it back up to $10,075 at the time of reporting. Despite being shy of its intra-week high of over $11,000 reached on July 21, this upward shift marks a solid 4% gain over the past week. Some must-have coffee and donut discussions about this!
The Crystal Ball of Crypto Predictions
Pantera Capital’s founder, Dan Morehead, didn’t hold back in a recent podcast episode, predicting Bitcoin could skyrocket to $42,000 by the end of 2019 and potentially touch $356,000 within a couple of years. Sounds ambitious? Or just an average Monday for crypto enthusiasts?
Altcoins on the Move
Meanwhile, the leading altcoin, Ether (ETH), strutted its stuff with a strong gain of nearly 7%, trading around $222. Holding steady above the $200 mark has become its new favorite pastime! In the week, ETH is also up by 5.2%.
The Ripple Effect
XRP also joined the party, posting minor gains of 2.3%. But hold onto your hats – other contenders like Litecoin (LTC), Bitcoin Cash (BCH), and Stellar (XLM) were showing off with gains between 4-6%. The reigning MVP, however, was EOS, which soared 8% on the day to approximately $4.53.
Broader Trends in Altcoins
Diving deeper into the top twenty coins, gems like NEO, up about 8%, Cardano (ADA) gaining 6.3%, and Cosmos (ATOM) rising over 7% are setting trends for what many are now calling the ‘alt season.’ This will be a fascinating spectacle to watch unfold, especially as opinions diverge on whether this marks the end or just an exciting chapter in the crypto saga.
The Market Cap Breakdown
The total market capitalization of all cryptocurrencies currently sits at a whopping $277,989,303,608 according to Coin360 data. Whether we’re looking at crystal balls or spreadsheets, it’s clear the market is poised for some thrilling times ahead!
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