Cryptocurrencies on Thursday

The price of major cryptocurrencies such as Bitcoin, Ethereum decreased on Thursday. Another digital currency Litecoin managed to overcome the 65$ level. However, its price is still less than it was several days ago.

The cryptocurrency market is evolving as it is a relatively new business. It means that people should be careful when investing in digital currencies. Nevertheless, cryptocurrencies have the potential to play a positive role as they are not under the control of the central banks or other institutions.

Digital currency market update

As mentioned above, Bitcoin’s price fell on Thursday. Bitcoin is the biggest cryptocurrency when it comes to market capitalization. It means that current and potential Bitcoin owners pay more attention to this digital currency. It makes sense, as Bitcoin is not only the biggest but is one of the best-known cryptocurrencies on the market.

Bitcoin’s price decreased by 5%.  It is worth mentioning that this happened in several hours. For the last several days, Bitcoin continues to struggle as its price fell to less than $10,000.  This trend continued as Bitcoin’s price fell to the lowest weekly level.

At the time of writing, Bitcoin’s price is $9,429.

Another major cryptocurrency which is Ethereum is also in a tough position. Ethereum was unable to break the resistance. Ethereum failed to overcome the $192 and $195 resistance against the U.S. dollar.

The decline of the second-biggest digital currency continued as the price fell to less than $180. Ethereum’s price decreased by 10%.  At some point, its price dropped to the lowest monthly level before the price started to increase to the current level. At the moment, Ethereum’s price is $169.04.

Litecoin is also one of the largest cryptocurrencies on the market. Its market value is $4.1 billion, and average daily trading volume is also impressive with $2.9 billion.

Litecoin’s price fell below $70.00 level on Wednesday. The price of Litecoin at the moment is $65.00.  Nevertheless, Litecoin’s price increased as it was less than $65.