Cryptocurrencies on Friday
Price of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum changed multiple times during the last 24 hours. It is worth mentioning that Bitcoin’s price continues to decrease for several days in a row. There are several factors which affected the cryptocurrencies. Bitcoin’s price dropped as it was unable to hold the momentum when the price was $10,000. After Bitcoin lost support at $10,000, its rate further decreased to $9,650 on Thursday.
According to CoinDesk, Bitcoin’s price fell by 21% during the last seven days. It means that from August 8 to August 15 the price of the number one cryptocurrency decreased by more than 20%.
The trade war between the U.S. and China started over a year ago. However, as the conflict escalated this week, it created additional problems for Bitcoin. On Wednesday, stock market prices fell due to the ongoing trade war. It is worth mentioning that the S&P 500 lost 3%. At the same time, FTSE-100 in London also experienced problems as its shares fell by about 1.3%.
In this situation, the price of Bitcoin still managed to increase to $10,385. However, in several hours the price fell again to less $10,000. At the moment, the price per Bitcoin is $10,036.
Litecoin and Ethereum
The price of other cryptocurrencies also decreased on Friday. Ethereum is the second biggest cryptocurrency in terms of market capitalization. The price of Ethereum declined and at the moment, the price per Ethereum is $184. On Thursday, the price declined to the lowest point of this month when the price of Ethereum reduced to $173.
The price of another of Litecoin fell on August 16. Right now, the price of Litecoin is $74.21.
Digital currencies such as Bitcoin, Ethereum, and others are famous around the world. Even though the price of the biggest cryptocurrency changed several times, there is a chance that Bitcoin’s price will increase in the upcoming days.
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