Bitcoin Briefly Breaks Over $4,000, Bitcoin Cash Sees Gains Near 20 Percent on the Day

Published at: Nov. 26, 2018

Monday, Nov. 26: crypto markets have seen a strong flush of green amidst the recent news that the U.S. state of Ohio is poised to become the first state to accept Bitcoin (BTC) for tax payments.

Virtually all of the top 100 cryptocurrencies by market share are seeing a sufficient rebound over the past 24 hours, with Bitcoin Cash (BCH) growing the most by almost 20 percent on the day.

Market visualization from Coin360

Yesterday, Nov. 25, Bitcoin dipped below the $4,000 threshold for the first time since September 2017, while total market capitalization dropped to as low as $119 billion.

Another sell-off of the crypto markets was followed by the pro-Bitcoin news from Ohio, as state treasurer Josh Mandel claimed that he “do[es] see [bitcoin] as a legitimate form of currency,” and stated that he is willing to “plan[t] a flag” for Ohio in terms of the national adoption of crypto. According to the Wall Street Journal, the move initially applies only to businesses, but there are plans to extend the offering to individual taxpayers in future.

After plunging to as low as $3,601 yesterday, Bitcoin has broken $4,000 support earlier today, trading at $4,120. The major cryptocurrency is again trading around $4,000, up around 3.2 percent over the past 24 hours. As of press time, the major cryptocurrency is trading at $3,975. Bitcoin is still down around 25 percent over the past week, and Bitcoin’s dominance on the markets constitutes around 53.7 percent.

Bitcoin 24-hour price chart. Source: CoinMarketCap

Ripple (XRP), the second cryptocurrency by market cap, is seeing more gains, up 6.7 percent over the 24 hour period and trading at $0.37 at press time.

Ripple 24-hour price chart. Source: CoinMarketCap

Bitcoin Cash, which some alleged has caused the recent collapse of the market by its recent hard fork, is seeing the biggest gains among the top 20 digital coins by market cap. The cryptocurrency is up almost 18 percent and is trading at $201, also having returned to its fourth position before EOS (EOS) in terms of market cap.

Yesterday, Bitcoin Cash went down to the top fifth coin position, with its price dropping to as low as $164. Bitcoin Cash is facing a drop of around 40 percent over the past 7 days, which is the biggest loss across the top 20 markets.

Bitcoin Cash 24-hour price chart. Source: CoinMarketCap

Total market capitalization is back to accounting for around $130 billion. At press time, total market cap amounts to $128 billion, with a daily trade volume of around $19 billion.

Recently, crypto investor and Bitcoin evangelist Alistair Milne tweeted a poll asking the crypto community to share their opinion about what Bitcoin’s bottom would be. 36 percent of respondents suggested that Bitcoin could drop to lower than the $1,800 threshold soon, while 26 percent predicted $3,000.

Source: Alistair Milne’s Twitter

Tags
Bitcoin
United States
Bitcoin Price
Markets
Ethereum
Altcoin
Cryptocurrencies
Ether Price
Ripple
Market Capitalization
Taxes
Related Posts
Bitcoin Breaks Back Above $5,500, Cryptos Recover From Major Sell-Off
Thursday, April 25 — crypto markets have mostly recovered after yesterday’s significant sell-off, with Bitcoin (BTC) breaking back above the $5,500 support. All but four coins among the top 20 cryptos by market cap are in green at press time. NEO is seeing the biggest increase of almost 7%, while bitcoin SV (BSV) and tezos (XTZ) tumbled 1% and 2.25%, respectively. Market visualization from Coin360 Bitcoin is steadily growing on the day and is trading at $5,521, up 1.18% over the past 24 hours at press time. The intraday low amounted to $5,421. Over the past 7 days, Bitcoin is …
Bitcoin / April 25, 2019
Bitcoin Holds $4,000, British Pound Loses to USD as Brexit Anticipation Grows
Monday, March 25 — crypto markets have continued trading sideways, with Bitcoin (BTC) holding the $4,000 threshold at press time, according to data from CoinMarketCap. Most of the top 20 cryptocurrencies by market cap are in the red today, with Cardano (ADA) dropping by more than 4 percent to press time, while Tezos (XTZ) is up almost 5.7 percent over the past 24 hours to press time. Bitcoin has been stable over the day, seeing a slight decline of around 0.2 percent at press time. The biggest cryptocurrency is trading at $4,020, which is a 0.1 decline over the past …
Bitcoin / March 25, 2019
Crypto Markets Lose $2 Billion After Brief Recovery Attempt, US Stock Market Is Down
Tuesday, Feb. 26: after a brief recovery attempt yesterday, crypto markets have lost more than $2 billion in terms of total market capitalization today, with the top 20 cryptocurrencies seeing mixed signals. While the market is overall trading sideways, most of top 20 coins are in the red at press time. Market visualization from Coin360 The largest cryptocurrency, Bitcoin (BTC), is down around 1 percent over the past 24 hours, trading at $3,847 at press time. Following major losses on Feb. 24, the top cryptocurrency is down over 3 percent over the past 7 days. Bitcoin 24-hour price chart. Source: …
Bitcoin / Feb. 26, 2019
Bitcoin Price Near $3,400, Wider Crypto Markets See Another Mild Slump
Thursday, Dec. 13: after seeing a small rebound yesterday, crypto markets are experiencing another mild decline, with 19 out of the top 20 cryptocurrencies by market cap in red. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has not managed to hold $3,500 support, dropping to as low as $3,406 earlier today. As of press time, the coin is trading at $3,417, down about 2 percent over the past 24 hours. The leading coin is down about 6.5 percent over the past 7 days by press time. Bitcoin 24-hour price chart. Source: CoinMarketCap Bitcoin Price Index Ripple (XRP), the second …
Bitcoin / Dec. 13, 2018
Crypto Markets Continue Rise With Market Cap Reaching Over $220 Billion
Thursday, September 27: crypto markets continue to rise as the crypto and blockchain industry is seeing some support from governmental and institutional entities. Following a sell-off that started on September 24, crypto markets are seeing the second day of a rebound, with daily trade volume now amounting to more than $16 billion. All but two top 20 cryptocurrencies by market capitalization have seen firm growth over the past 24 hours, following a slight price stagnation within the day and surging sharply within the past few hours. Market visualization from Coin360 Bitcoin (BTC) is up around 2.82 percent over 24 hours …
Bitcoin / Sept. 27, 2018