Bitcoin’s Worth Goes Beyond $8,500, Most Of The Altcoins See Loses

Bitcoin’s worth reached a new high after it went over the $8,500 price range on the day by press time while other altcoins are reporting slight losses. Let’s check out the price analysis for the cryptocurrencies in our latest cryptocurrency news.

Bitcoin’s worth increased by more than 2 percent on the day and is currently trading at $8,631 at press time. If you take a look at the weekly chart, the coin is up by more than 7 percent. Grayscale, the American digital asset manager claimed recently in research that Bitcoin vastly outperformed the traditional assets during the United States-China trade war.

Ether (ETH) on the other hand, is holding onto its positions as the largest cryptocurrency by market cap which is currently standing at $27.3 billion. The second-largest Ripple (XRP) has a market cap of $16.7 billion at press time. The data from Coin360 shows that ETH has seen a decrease in its value by 1.2% over the last 24 hours. It is currently trading at around $256 and over the week the altcoin gained over 3.5 percent in value.

Ripple’s XRP decreased by slightly over 1 percent in the past 24 hours and is now trading around $0.396. Over the week, the altcoin is down by 4.20%. Among the top 20 cryptocurrencies, one of the altcoins reporting notable losses is Binance Coin (BNB) getting down over 11%. This is a rare picture for the state of the BNB coin since in the recent months it was the one altcoin that surged when the others dropped. At press time, the total market cap of all cryptocurrencies is about $266 billion which is about 4 percent lower than the one reported a week ago.

As previously reported in the coming altcoin news, the crypto exchange Giant Binance announced its new update on the terms of use which includes a restriction of services for the United States citizens and corporate traders. On the side of the traditional market, the United State stock market is seeing slight loses as well. The CBOE volatility index gained about 0.44% on the day at press time. The oil futures and indexes are seeing slight gains today by press time.