Bitcoin Approaches $3,600 Again as Top Cryptocurrencies See Gains
Most of the top 20 cryptocurrencies are seeing slight to substantial gains, with Bitcoin hovering just over $3,600.
Market visualization from Coin360
At press time, Bitcoin is up just over 1 percent on the day, trading at around $3,603. Looking at its weekly chart, the current price is just slightly lower than $3,658, the price at which Bitcoin started the week. On the month, the leading cryptocurrency is down about 10 percent from just over $4,000.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ripple (XRP) is up under half of a percent on the day, trading at around $0.317 at press time. On the weekly chart, the current price is lower than $0.33, the price at which XRP started the week — and down from $0.333, the midweek high reported on Jan. 19.
Ripple 7-day price chart. Source: CoinMarketCap
Second largest altcoin Ethereum (ETH) has seen its value increase by a little over 1.5 percent over the last 24 hours. At press time, ETH is trading at $118, having started the day about one dollar lower. On the weekly chart, Ethereum’s current value is lower than $124, the price at which the coin started the week.
Ethereum 7-day chart. Source: CoinMarketCap
Among the top 25 cryptocurrencies, the ones experiencing the most notable growth are Waves (WAVES), which is up over 22 percent, and Bitcoin Cash (BCH), which is up over 7 percent on the day to press time.
The combined market capitalization of all cryptocurrencies — currently equivalent to about $120.6 billion — is lower than $122.3, the value it reported one week ago. Furthermore, the total market cap has grown by over a billion dollars in the 24 hours to press time, having started the day at about $119.1.
Total crypto market cap 7-day chart. Source: CoinMarketCap
As Cointelegraph recently reported, Bitcoin is nearly oversold and may be gearing up for a short-term rally, according to a Bloomberg analysis.