Major Coins Report Mild Losses, Bitcoin Price Hovers Around $10,700
Major cryptocurrencies are declining again, after recent brief recovery attempt, while Bitcoin price remains near $10,700.
Tuesday, Aug. 20 — following a brief period of recovery, almost all of the top-20 coins by market capitalization have entered the red again, with Bitcoin (BTC) hovering around $10,700.
Market visualization. Source: Coin360
The leading digital currency BTC is struggling to stay in positive territory, being up by a modest 0.26% on the day to trade at around $10,735 as of press time. BTC started the day near $10,697, subsequently dipping to a daily low of $10,564, while the coin’s high today was $10,965.
BTC hash rate broke yet another record high, according to Aug. 19 data from monitoring resource Blockchain.com. The top coin’s hash rate has continued to break records throughout the summer, hitting a whopping 82.5 TH/s yesterday.
Bitcoin 7-day price chart. Source: Coin360
The largest altcoin Ether (ETH) is suffering a slight drop, having lost 0.86% in the last 24 hours. At press time ETH is trading at $196.93. The coin is reporting both weekly and monthly losses of 7.47% and 14% respectively.
Ether 7-day price chart. Source: Coin360
Except BTC, on the top-20 list of cryptocurrencies only Ethereum Classic (ETC) has registered gains over the past day. ETC is currently up by solid 10.63% and is trading at around $6.05. Chainlink (LINK), Dash (DASH), and Bitcoin SV (BSV) are the main losers, down 5.77%, 2.97% and 2.73% respectively.
The total crypto market capitalization of all digital currencies is around $277.5 billion at press time, up from its intra-week high of $253.5 billion on Aug. 15.
Veteran frontier markets investor Mark Mobius suggested today that cryptocurrencies will boost the price of gold, while the CEO of online travel giant Booking Holdings said that blockchain-based currencies will continue to grow.
Also today, United States Secretary of State Mike Pompeo pointed out the risk of anonymous transactions associated with crypto, advising that Bitcoin should be regulated the same way as other electronic financial transactions.