CRYPTOCURRENCIES NEGATIVE CORRECTION DESPITE GOOD NEWS

Updated: 08/07/2019 12:47
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Despite some good news and reaching the high marks cryptocurrencies are observing some negative correction, as a result the price is getting lowered
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Despite some good news and reaching the high marks cryptocurrencies are observing some negative correction, as a result the price is getting lowered

This morning, the price of bitcoin broke through the mark of $12,000, but could not keep this level and is now trading at around $ 11,736. Over the past seven days, the price of the main cryptocurrency has grown by 22%.

Most analysts attribute the rise in bitcoin to global instability due to the introduction of additional tariffs on Chinese imports by the United States, which led to a drop in the Chinese Yuan by 7% at the beginning of the week.

Ethereum (ETH) holds the position of the largest altcoin, taking into consideration the total market capitalization, which currently stands at $24 billion. XRP, the second largest altcoin, has a market capitalization of $13.5 billion.

The cost of ETH over the past day decreased by 2.6%, to $ 228 (over the week, the coin increased by 8.3%). XRP fell by 3.8% over the last day and is currently trading at around $ 0.312 (over the week, the coin grew by about 0.21%).

Among the 10 largest cryptocurrencies, the most significant losses were incurred by Litecoin - after yesterday's halving, its price dropped by 6%, to $92.7, with a capitalization of $5.8 billion.

The cryptocurrency market's total capitalization reached $303.5 billion at the time of publication.


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