Bitcoin Price Stays Above $10,000 as Overall Crypto Market Sees Green
The crypto market is seeing green in general, with Bitcoin’s price hovering at about $10,150.
Thursday, Aug. 22 — Bitcoin (BTC), Ether (ETH), and XRP are all in the green. The top three coins fell from Monday to Wednesday but are moving upwards again — and other altcoins are generally green across the board.
Market visualization. Source: Coin360
Bitcoin is trading over $10,120 at the time of publication — a 0.08% price increase on the day. Hans Hauge, a senior qualitative researcher at crypto investment fund Ikigai, believes that BTC is still in the middle of a bull run. According to Hauge, the Bitcoin Days Destroyed metric — a measure of the time between movements of an amount of Bitcoin — shows that BTC is not yet at the top of a market bubble.
Bitcoin 7-day price chart. Source: Coin360
The number two cryptocurrency, Ether, is one of the higher-performing tokens on the day. At the time of publication, ETH is trading at $190.99 and has moved up in price by 3.52%. But on Wednesday, cryptocurrency investor and Placeholder partner Chris Burniske said that ETH is in a bear market right now. He appears to believe that ETH will continue upward eventually, and noted parallels to BTC’s price patterns. Burniske said:
“To objective observers, the network’s momentum was clear despite the bearish price action; those predisposed to dislike based on perceived vested interests, were blinded by biases & missed the bus. What happened to $BTC then is happening to $ETH now.”
Ether 7-day price chart. Source: Coin360
XRP, the second-largest altcoin by market cap, is trading at $0.27 and has increased by 2.25% on the day as of publishing time. XRP was the target of a coordinated sell-off on the young crypto exchange Beaxy a little over a week ago. Beaxy moved to halt trading after XRP/BTC price plummeted to 40% of its trading value on different crypto exchanges.
XRP 7-day price chart. Source: Coin360
One of the top-performing cryptocurrencies today is EOS. Trading at $3.63, it is up 4.05% on the day at the time of publication. EOS is the seventh-largest cryptocurrency by market cap and is a coin used on a platform of the same name for creating decentralized apps, also known as DApps.
The total market capitalization of the top 100 cryptocurrencies is more than $265 billion at publication time, according to data from Coin360.