Bitcoin might not be seeing massive gains, but the token has been showing positive inclinations over the past week.
Data taken from Coin360 and CoinMarketCap show the state of the cryptocurrency right now and how the tokens have been moving over the week. Although Bitcoin is currently showing red in trading over the past 24 hours, the market is in a better place overall than it was this time last week.
Evidence of the movement of Bitcoin price can be seen in the token’s charts over the week. The beginning of the weekend saw a leap from Bitcoin’s ranging from $3400 USD to a market cap of nearly $3700 USD. Since then, the token has remained somewhat stable above $3600 USD in both market cap and price valuation.
Ethereum, which now stands as the leading altcoin, has followed Bitcoin’s price movements. Ethereum also saw a jump in price over the weekend, heading from a price of around $104 USD to above $124 USD. Currently, Ethereum is bearing a total price valuation of $120.83 US.
Ripple, the third cryptocurrency token in terms of market cap, has shown more volatility than the top two tokens, but has followed the trend of gaining just before the weeked. Ripple’s XRP boosted from $0.2920 USD to $0.3931 USD on Friday. Currently, Ripple is valued at $0.3039 USD.
Although the markets are bearish, and this is the longest winter yet, if the leading tokens can maintain the figures, and shoot upwards over the week following the positive increases, then it might be a great week for cryptocurrency and could be the surge needing to break into spring.
Cautious optimism seems to be the approach recommended. Senior analyst of eToro Mati Greenspan tweeted his take on the markets, saying “we’re not out the bear market just yet” but that the moves have been “encouraging”.
Yes, the crypto moves of the last few days have been encouraging. No, we’re not out of the bear market just yet. pic.twitter.com/rgQsx2NVff
— Mati Greenspan (@MatiGreenspan) February 11, 2019