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Friday, January 11 – after a serious price loss yesterday, many cryptocurrencies today are recovering ground lost, with most of the main currencies that come back in the green, as shown by the Coin360 data.
Market display from Coin360
The top bitcoin cryptocurrency (BTC) stabilized at around $ 3,700 at the time of printing, with a slight recovery of 1% in the last 24 hours. Yesterday, on 10 January, the bitcoin suffered a sharp decline from ~ $ 4,000 to ~ $ 3,650 – a loss of over 8% intraday.
After claiming the $ 6,000 on 6 January – which held comfortably for several days – the new recession brought Bitcoin a slight 2.4% loss during the week. In the month, the currency remains up by 8 percent.
Bitcoin 7-day price chart. Source: Cointelegraph bitcoin price index.
Ripple (XRP) – which yesterday defused Ethereum once again as the largest altcoin by market capitalization – saw few price changes during the day, rising 1.5 percent to trade ~ $ 0.33 at the time of printing . Before yesterday's steep losses, activity had peaked in the intraweek of ~ $ 0.38. Ripple is now falling close to 5 percent of the week, but remains on a solid 15 percent on the month.
Ripple's 7-day chart. Source: Cointelegraph & # 39; s Ripple Price Index
Ethereum (ETH) is seeing minor fluctuations in the negative price on the day, currently declining only 0.22 percent to trade at $ 128. With a market capitalization of $ 13.3 billion, Ethereum is just behind Ripple, which has a market capitalization of about $ 13.8 billion at the time of printing, according to CoinMarketCap data.
Yesterday's two-figure losses led Ethereum to 15% in red on the 7-day chart. In the month, growth remains up 45 percent.
Ethereum 7-day price table. Source: Cointelegraph Ethereum Price Index
Of the remaining first twenty coins on CoinMarketCap, the top ten are mostly stable – with 24-hour price changes within a 2% range in both directions – with Bitcoin Cash (BCH) which sees the biggest change in ten, down 1.80 percent to trade at 132.50.
Widening to the first twenty, practically all the altcoins see a more substantial growth of at least 2%, with NEM (XEM), Ethereum Classic (ETC), Zcash (ZEC) and Binance Coin (BNB) all seeing a solid growth of 4 – 5.5 percent on the day. Meanwhile the newly bifurcated bitcoin SV (BSV) is meanwhile only declining by 1 percent of the day for printing.
The total market capitalization of all cryptocurrencies is about $ 123.7 billion at the time of printing – about $ 1 billion where it started yesterday at $ 122.8 billion.
Weekly graph of the total market capitalization of all cryptocurrencies. Source: CoinMarketCap
As reported today, Vinny Lingham, CEO of the blockchain Civic identity platform, has revised its short-term bitcoin price forecast, predicting that the currency will trade sideways between $ 3,000 and $ 5,000 for another month or two, before that breaks or more downwards.
In other important industry news, Cointelegraph reported today that the Japanese financial controller has granted full permission to Coincheck to continue operating in the country.
Even today, Cointelegraph wrote that a SEC (Office of Compliance Inspections and Examinations) report from the SEC (Securities and Exchange Commission) includes digital resources – specified as cryptocurrencies, coins and tokens – among the six "priority themes" of the 2019 OCIE Exam ".
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