Bitcoin Bounces Back
After a rollercoaster week that saw Bitcoin (BTC) dip below $9,500, the leading cryptocurrency is making a comeback today, inching close to the elusive $11,000 mark. As of the latest reports, it’s trading at approximately $10,922 after a sharp intraday high of $10,944, reflecting a commendable 3.7% increase. It’s as if Bitcoin just remembered it was supposed to be the king of cryptos and decided to put on its crown again.
Market Movements and Highlights
In a refreshing twist, all top 20 coins by market capitalization have enjoyed a little boost of their own. While we can give Bitcoin a pat on the back for almost making it back to $11k, Ethereum (ETH) isn’t far behind, showing signs of life with a 5% rise, trading at $232, yet still nursing a 13.4% decline over the week. Talk about mixed feelings!
XRP and the Other Runners
Not to be left out of the party, XRP is also on the up, examining a respectable 6.4% jump to $0.339. It even managed a tiny but sweet 2.6% gain over the last seven days. Looks like everyone’s decided to whip out their party hats today!
BSV Stands Out
Bitcoin SV (BSV), the underdog of the pack, has put on a spectacular show, vaulting over 25% today! Clearly, it woke up and chose chaos. With such gains, BSV stands out like a unicorn in a field of horses in the top 20 coins.
Market Cap and Trade Volume Insights
The total market capitalization of the crypto space is back to $298 billion after dipping below $250 billion earlier this week. Daily trade volume sits at around $63 billion, which means that there’s plenty of buying and selling buzz filling the air. It could be the equivalent of virtual shuffling around in the adult world!
Future Predictions and Positive Legislative News
Listening to the latest chatter in the crypto world, bullish sentiments are permeating discussions. A notable mention comes from the managing director and quant strategist at Fundstrat Global Advisors, Sam Doctor, who has dropped some heat with predictions that Bakkt’s much-anticipated Bitcoin futures contracts will be launching in Q3 2019. So, don’t pack away those party hats just yet!
Moreover, optimism grows in Asia as India’s Minister of State for Finance, Anurag Thakur, revealed that there are no laws explicitly barring citizens from utilizing cryptocurrencies. That’s right! No enthusiastic crypto dances being taken away from citizens just yet.
