Virtual Currencies: Bitcoin Reaching $5,300 Mark
On Wednesday, Bitcoin approaches the $5,300 mark. Majority of the top 20 cryptocurrencies are announcing slightly to moderate increase.
As presented in the CoinMarketCap, Bitcoin’s price increased over one percent on the day. With trading around $5,272 by press time. Bitcoin price started $5,038 last week. Currently, based on its weekly chart, the price is about 4% bigger than the starting price last week.
Earlier today, Cointelegraph stated about the Japanese finance regulator the Finance Services Agency (FSA) not accepting Bitcoin as a virtual currency. FSA discussed this in a meeting last March 4. Professor Iwashita Goto of the Public Policy Graduate School of Kyoto even made a petition to accept their opinion of Bitcoin.
Ethereum (ETH), with around $18.9 billion, ranks as the number one biggest altcoin by market cap. While Ripple (XRP) gets the second place, with a market cap of $14.8 billion by press time.
Across the last 24 hours, ETH rose by about 1.5%. Then according to press time, its trading is around $180 and began at $177 that day. ETH’s weekly chart shows a value increase of about 5%.
In a currently published interview, the co-founder of Ethereum and IOHK, Charles Hoskinson scrutinized Ethereum and Eos’s path to improvement.
Ripple, second-largest altcoin, has reached about 1.6% from the last 24 hours to press time. The said virtual currency is currently trading around $0.356. For its weekly chart, it started just over one percent higher last week compared to the current price. But still, the coin is 8% bigger than the mid-week low shown last Thursday.
Comparing the development of the top 20 cryptocurrencies, Eos (EOS) has the most prominent growth among them with about 7% at press time. Another impressive improvement is the Cardano (ADA) with more than 4% by press time.
A week ago, the total market cap of all cryptocurrencies $176.7 billion. This week, the value is equivalent to $182.7 billion which is nearly 3.3% higher than last week.
Going to the United States stock market, the S&P 500 rose 0.21% and NASDAQ up 0.46% to press time. However, about 2.73% has dropped from the CBOE Volatility Index (VIX). The U.S. stock market seems to have some safe earnings today.
As of no, investors are expecting the Federal Reserve to issue its minutes and earnings.
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