Bitcoin is approaching $ 7,000, while Altcoins shows signs of recovery


5 August: After the market crash yesterday, Bitcoin (BTC) rises slightly, fluctuating around $ 7000. All the main altcoins show marked signs of recovery, between 1 and 7%, as shown by the Coin360 data.

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<p style= Market display from Coin360

Bitcoin (BTC) is trading around $ 7,040 at the time of printing, holding the ground the day after its quick reversal yesterday to a price not seen since July 17. The leading cryptocurrency could now look at $ 6,800 as a short-term support, after several pushes above the $ 7,000 threshold of today have failed to resist. Bitcoin's weekly losses are now around 14.05%, with monthly revenue pinched only less than 8%.

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<p style= Bitcoin 24-hour price chart. Source: Cointelegraph Bitcoin price index

Ethereum (ETH) reports slightly higher daily earnings, up by 1-2 percent to trade around $ 412 at the time of printing. The main altcoin however sustained a gradual decline to lose more than $ 50 in value on its weekly chart, recording a loss of 11.35%. In the month, Ethereum is down 11.66%.

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<p style= Ethereum & # 39; s 7 Chart of daily prices Source: Cointelegraph Ethereum price index

On the CoinMarketCap lists, all the top fifteen coins are in the green, registering more substantial gains of between 1 and 7% of the day.

IOTA (MIOTA) is a significant anomalous value, showing the strongest signs of recovery of the main increases with a solid gain of 7.21% to trade around $ 0.91 at the time of printing.In the top ten coins, Cardano (ADA) is the second strongest player of the day, about 3.63% to trade around $ 0.13 at the time of printing.

Among the top twenty coins by market capitalization, Ethereum Classic (ETC) is also recording significant gains, growing by 7.17% per day and trading around $ 17,44 at the time of the press pa The altcoin mini rally kicked off on August 3, arguably supported by news of its upcoming listing on the leading US exchange and wallet service provider Coinbase, scheduled for August 7th.

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<p dir= The Ethereum Classic 7-day price table Source: CoinMarketCap

The total market capitalization of all cryptocurrencies is approximately $ 257.2 billion at the time of the press – a solid $ 5 billion from yesterday's low at $ 252.3 billion, yet the markets lost about $ 50 billion from the July end rally to reach over $ 303 billion .

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<p dir= 1 month chart of the total market capitalization of all the cryptocurrencies from CoinMarketCap

While the market fell on Friday, the main news of the week remain the bullish revelation that the Intercontinental Exchange (ICE) – the operator of 23 major world stock exchanges including the New York Stock Exchange (NYSE) – plans to create a Microsoft cloud-based ecosystem for digital resources that would cover the spectrum from federated regulated markets and warehouses to commercial and consumer needs. [19659013] As reported by Cointelegraph today, Starbucks, one of the companies that collaborate with ICE to build the digital resource ecosystem, has clarified that it will not accept Bitcoin (BTC) or other cryptocurrencies as payment, later misleading reports from the media traditional.

The ICE also revealed that it will offer BTC futures contracts physically delivered starting this November, provided it gets the green light from the US Commodity Futures Trading Commission (CFTC).

Some analysts have suggested that physical delivery would have announced an important institutionalization of the crypto-landscape and be bullish for the markets – as distinct from the cash-settled Bitcoin futures contracts currently traded on the CME and CBOE exchanges.

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