quora Cryptocurrency market update on September 4

Cryptocurrency market update on Wednesday

The digital currency market is developing every day. It means that the price of cryptocurrencies changes all the time. There are many digital currencies around the world. However, only several of them are famous as their market capitalization is quite impressive.

The biggest cryptocurrency when it comes to the market capitalization is the Bitcoin. Second, the most significant is the Ethereum which is another valuable digital currency.

Digital currency market on WednesdayCryptocurrency news

Bitcoin’s price is on the rise. In August Bitcoin struggled to remain above the $10,000 level. However, for the last couple of days, its price is well above this level. Yesterday, Bitcoin’s price increased against the U.S. dollar. It was able to break the resistance level at $10,400 and $10,500.

The price of Bitcoin even reached a new monthly high as the price was close to $10,790. Even though, Bitcoin’s price fell from that level the overall situation is promising as Bitcoin’s price might surpass the $10,500 level again. At the moment the price of Bitcoin is $10,403. Most likely, Bitcoin will be able to strengthen its position on the market.

Another cryptocurrency Ethereum is in difficult position. On September 3, the price of Ethereum was on the rise. However, Ethereum couldn’t break the resistance above the $180-$181 level.  Moreover, Ethereum lost some of its strength when the price fell to $175. The situation had changed when Etherum’s price surpassed the $180, but this was a short-lived success. The price fell below that level again. At the moment, Ethereum’s price is $177.

Litecoin, on the contrary, regained its position. During the last week, Litecoin’s price fell to $62.37. Nevertheless, Litecoin step-by-step is gaining momentum. During the last 24 hours, the price increased by 1.3% and reached $67.84. Right now, the price of Litecoin is close to $68. This is good news for this cryptocurrency. The market value of Litecoin is $4.2 billion.

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