Cryptocurrencies on August 19

The price of digital currencies increased on Monday. Global economic problems affected the price of cryptocurrencies.

Moreover, several days ago, the price of Bitcoin fell to less than $10,000. It is a coincidence that when the price drops below this level, investors become more cautious about this cryptocurrency. Fortunately, Bitcoin regained the lost position when the price of this cryptocurrency surpassed $10,000. Yesterday, the price of Bitcoin was $10,672. This fact once more underlined the importance of this cryptocurrency to the global market.

The price of the Ethereum also increased on Monday. Ethereum is the second-biggest cryptocurrency in terms of market capitalization. Yesterday the price of Ethereum was $200.70. It is worth mentioning that the price of Ethereum last week the price of this digital currency fell to $174. Moreover, it meant that price fell the lowest level since the beginning of the month.  However, the price of Bitcoin, as well as Ethereum, increased on August 19. This was great news for traders and investors as cryptocurrencies managed to overcome the resistance.

Litecoin is also one of the largest cryptocurrencies in the world. On Monday, the price of Litecoin rose by more than 6% and surpassed the $75 level. Yesterday, the price of Litecoin was $78.17. There was a chance that the price of Litecoin would exceed $80.

Cryptocurrencies in India

Governmental organizations around the world start to realize the importance of cryptocurrencies for the local as well as the global economy. For instance, the government of the second-biggest Indian state of Maharashtra wants to use blockchain technology. The state’s population is more than 114 million people.

According to the sources, citizens would be able to use the blockchain technology for vehicle registration, documents, etc.  It means that in case of successful implementation, the blockchain would make the lives of millions of people more comfortable.

The price of digital currencies increased on August 19. There was a chance that Ethereum’s price might reach $210-215 level after breaking the resistance at $200-$202 level.