The Bitcoin price has been through some minor ups and downs this weekend but has now corrected to around $9,200. After rising above $ 9,500, Bitcoin has increased to a $425 billion market cap and moved towards $450 billion quickly (the same position where it was at the beginning of March).
While Bitcoin was rising, EOS declined by more than 15% after the meteoric rise in price over the past 48 hours. The co-founder of the cryptocurrency hedge fund BlockTower, Ari Paul, stated that if EOS had been able to sustain its momentum, it could have been possible for the ERC20 token to surpass Ethereum in terms of value.
As Paul said:
Price observation: EOS is an ERC20 smart contract currently valued at $16 billion. If it repeated the run of the last two weeks, it would surpass ETH’s value, while residing on top of it. This is an observation; not at all a prediction nor investment commentary,”
After peaking at $22.86, the price of EOS has fallen to $18.53 and declined to $15.2 billion in valuation. On a weekly basis, it has still more than doubled in value, though.
The Bitcoin price, however, is one of the most interesting trends in the crypto world right now. The interesting thing about it is the fact that it has been able to sustain its momentum above the $9,000 mark and recorded a 10% increase from the $9,800 mark. If the price of Bitcoin remains above $9,000 over the next week, analysts predict that it could breach the $10,000 level and gain support at $12,000 very soon.
Currently, the total cryptocurrency market cap is valued at $430.14 billion with Bitcoin having $157.57 billion of it.
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