Crypto Markets See Mixed Action While Bitcoin Holds $3,900, US Stocks Rise

Published at: March 13, 2019

Wednesday, March 13 — cryptocurrencies continued trading sideways today, with most of the top 20 cryptocurrencies by market capitalization seeing moderate price changes since yesterday.

Market visualization from Coin360

Bitcoin (BTC) has managed to hold the $3,900 price threshold by press time, staying relatively stable since March 6. However, the biggest cryptocurrency dropped below the price point earlier on the day, with the intraday low of $3,891. At press time, Bitcoin is trading at $3,910, down around 0.01 percent over the past 24 hours.

Bitcoin 30-day price chart. Source: CoinMarketCap

Ethereum (ETH), the second largest cryptocurrency by market cap, is trading at $133.31, down 0.44 percent over the past 24 hours. The top altcoin is seeing a considerable decline over the past 7 days, down almost 4 percent on a week.

Ethereum 7-day price chart. Source: CoinMarketCap

Ripple (XRP), the third top cryptocurrency by market cap, is up 1.22 percent to $0.314 at press time. With that, the second top altcoin is still down 0.88 percent over the past 7 days.

Ripple 7-day price chart. Source: CoinMarketCap

Top 20th cryptocurrency Ontology (ONT) is seeing the most growth among the top 20 coins by market cap, up 3.66 percent over the past 24 hours. The largest losses among top 20 do not exceed 2 percent at press time, with Maker (MKR) down 1.62 percent at press time.

Total market capitalization has continued to hover around $134 billion today, while daily trade volume is at $30 billion.

Total market capitalization 7-day chart. Source: CoinMarketCap

Earlier today, Thailand’s securities regulator approved the first initial coin offering (ICO) portal in the country. The portal reportedly allows the screening of ICOs, as well as due diligence checks and the confirmation of smart contract source codes and Know Your Customer (KYC) processes.

Yesterday, Bloomberg published an article suggesting that Bitcoin could see another sell off based on key price movement trends. According to the report, technical gauges signaling long-term buying demand for Bitcoin are deteriorating, with the seminal crypto’s Moving Average Convergence Divergence declining since mid-February.

The United States stock market seen growth today as tech shares outperformed, according to a CNBC report. At press time, Dow Jones Industrial Average (DJIA) is up 0.7 percent by 185 points, while S&P 500 (SPX) and Nasdaq (NASDAQ) Composite are both up almost 1 percent.

Oil prices also rose today as U.S. inventories fell by 3.9 million barrels last week, while sanctions stall exports from Venezuela, according to CNBC. West Texas Intermediate (WTI) crude oil is seeing a significant growth of 2.3 percent at press time, while Brent crude oil futures are up 1.3, according to Oilprice.com.

Gold prices almost hit a two-week high today, buoyed by reinforced views that Federal Reserve would be patient on monetary policy, as well as uncertainty over a Brexit deal, CNBC wrote. At press time, spot gold is up around 0.5 percent to $1,309 per ounce, which is the highest level since March 1, while gold futures are seeing a growth of 0.6 percent.

Tags
Bitcoin
Bitcoin Price
Markets
Ethereum
Altcoin
Cryptocurrencies
Cardano
Ether Price
Ripple
Market Capitalization
Stellar
Related Posts
Crypto Markets See Mixed Signals After Recent Downturn
Sunday, Nov. 8: crypto markets are seeing mixed signals after a recent downturn, with the top 20 cryptocurrencies mostly in the green, as data from Coin360 shows. Bitcoin (BTC) faces minor losses, while Stellar (XLM) is the only major coin to grow steadily throughout the weekend. Market visualization from Coin360 Similar to most of the major currencies, Bitcoin (BTC) is seeing mixed signals with its price fluctuating around $6,400 as of press time. During this week, the top cryptocurrency had its main peak on Wednesday, Nov. 7, trading over $6,500 at the time, and then mildly declining by the end …
Bitcoin / Nov. 11, 2018
Price analysis 1/13: BTC, ETH, XRP, LTC, ADA, BCH, DOT, XLM, LINK, BNB
The top 100 richest Bitcoin (BTC) addresses have added 334,000 Bitcoin to their existing holdings over the past 30 days, a clear signal that whales and institutional-size investors bought the dip. A positive sign is that most of them have not reacted to the recent fall in Bitcoin’s price. This suggests that large investors are bullish on Bitcoin for the long term rather than looking to make a quick gain. An important element in the recent rally is many of the purchases have come from institutional investors who were critical of Bitcoin in the past. The list is likely to …
Bitcoin / Jan. 13, 2021
Price analysis 12/28: BTC, ETH, XRP, LTC, BCH, DOT, ADA, BNB, LINK, XLM
Several central banks have resorted to unprecedented monetary expansion and aggressive rate cuts to support their respective economies badgered by the coronavirus pandemic. Record liquidity has resulted in sharp rallies in the S&P 500, gold, and Bitcoin (BTC), which suggests that investors are plowing money into assets of their choice. While gold is way below its all-time high set in August, both the S&P 500 and Bitcoin are near their all-time high. The last five trading days of the year and the first two of the next year have historically been bullish for the S&P 500, dubbed as the "Santa …
Bitcoin / Dec. 28, 2020
Price analysis 12/23: BTC, ETH, XRP, LTC, BCH, LINK, BNB, ADA, DOT, XLM
The current crypto bull run has been spearheaded by Bitcoin (BTC). As the United States Securities and Exchange Commission has previously hinted that Bitcoin is not a security, the regulator’s current lawsuit against Ripple is unlikely to stop the institutional inflow of money into Bitcoin. However, a few altcoins that may be at risk of facing a similar fate as Ripple could face selling pressure. Due to a change in sentiment, retail investors may sell some of their altcoin holdings and shift to Bitcoin. Even retail investors who plan to spend their stimulus checks for buying crypto-assets may prefer Bitcoin …
Bitcoin / Dec. 23, 2020
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