First Week of December Ends with Flush of Green, Bitcoin Nears $3,700
The crypto markets are seeing a wave of green, as top crypto Bitcoin nears the $3,700 mark after a week of lows.
Market visualization by Coin360
After a week of breaking new year-to-date lows, the major cryptocurrency is trading at around $3,650 by press time, up more than 7 percent over a 24 hour period. The coin is still down almost 9 percent on the week and more than 44 percent on the month, according to Cointelegraph’s Bitcoin Price Index.
Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index
The second-largest crypto by market cap, Ripple (XRP), is also up by 5 percent on the day, trading at around $0.31 as of press time, according to Cointelegraph’s Ripple Price Index. Ripple’s weekly and monthly charts are similar to those of Bitcoin, with losses of almost 12 and 41 percent respectively.
Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index
Third-ranked crypto by market cap Ethereum (ETH) is up the most of the top-three cryptos, seeing almost 10 percent growth on the day and trading at around $97 by press time. On the week, the altcoin is down almost 14 percent, and is seeing losses of more than 55 percent over the past month.
Ethereum 7-day price chart. Cointelegraph’s Ethereum Price Index
Only Bitcoin Cash SV (BSV) — a branch of the Nov. 15 Bitcoin Cash (BCH) hard fork — is in the red, down more than 2 percent over a 24 hour period and trading at around $97.37 at press time. BSV had been ranked fifth yesterday, Dec. 8, but is now in the eighth spot on CoinMarketCap. BCH is now ranked fifth, up around 8 percent on the day and trading at about $111 by press time.
Total market capitalization of all cryptocurrencies is at around $115 billion as of press time, up from its Dec. 7 weekly low of just under $104 billion.
7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap